Over-reaction to negative sentiments or a major reversal?
With the current 2-day high-percentage decline on significant volume, combined with the breach of the often-tested support level of ~$53, 
SBUX seems to be at the beginning stages of a major correction.
In the absence of some positive news in the near future, I see the next major support area to be near $43.70.
SBUX seems to be at the beginning stages of a major correction. In the absence of some positive news in the near future, I see the next major support area to be near $43.70.
Trade closed manually
Forget to cover this short last week.
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