Starbucks Stalls At Resistance, Says Market Timer Frank Kollar

- Analytical Commentary -

February 4, 2010 (FinancialWire) (By Frank Kollar) –Shares of Starbucks Corp (NASDAQ: SBUX) reached an important resistance level at $24.00 on December 18, 2009. Starbucks has remained below this level into February.

The $24.00 level is the 50% retracement for the entire Starbucks’ decline in the 2008-2009 bear market. If Starbucks shares have a chance of moving higher in coming weeks, this level must be surpassed.

Starbucks has now declined to its 50-day moving average, closing on Wednesday, February 3 at $22.43. A close below the $22.00 level would likely result in lower lows. A close above $24.00 would take this stock to at least $27.40.

Disclaimer: The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Starbucks.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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