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SBUX Trying to Flip Resistance Into Support

SBUX has experienced a huge spike after hiring a new CEO. I shared my thoughts about Brian Niccol on the day of the announcement, I think he will have a huge impact on Starbucks. Currently SBUX has been trading within a resistance zone between $90.40 and $96.60. I think SBUX is trying to flip this zone into support to trend up higher. I have $91.84 as a shorter term support level to monitor. SBUX has been building some support here, but could continue to trade sideways for a while longer.

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