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SBUX Approaching White Support Zone

I was initially excited to buy SBUX at the light blue zone, but there has been a lot of bad news driving the SBUX stock price down. Geopolitical tensions in the Middle East are hurting SBUX’s bottom line, and SBUX recently reported a very poor earnings announcement. I think SBUX is in trouble, and other investors are concerned about buying with the current situation taking place. In terms of price action there is a white support zone between $68.47 and $70.62 to monitor for a potential short-term rebound.

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