An over-reaction or a major trend reversal?
With the significant 2-day decline on high volume, combined with the breach of the often-tested $53 area of support, 
SBUX seems to have begun a major reversal.
In the absence of any positive news in the near future, I see a continuation of the downtrend towards the next support level of about $43.70.
SBUX seems to have begun a major reversal. In the absence of any positive news in the near future, I see a continuation of the downtrend towards the next support level of about $43.70.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.