Starbucks: 10 Things the Stock' s Chart Is Showing - Minyanville

Today?s chart comes courtesy of a few reader requests for Starbucks Corporation (NASDAQ:SBUX), which operates as a roaster, marketer, and retailer of specialty coffee worldwide. As of September 30, 2012, the company operated 9,405 company-operated stores and 8,661 licensed stores.

Click to enlarge

What I Am Looking At:

• Having a decent year, up over 16% year-to-date, performing slightly better than the S&P 500 (INDEXSP:.INX).

• Strong upside gap in beginning November on better than expected earnings.

• Raises forecast on strong sales and plans for 1,300 new stores in 2013.

• Positive sign to see shares breaking out from November 2 gap day?s range.

• Also, breakout level has been significant resistance this fall and former support area from the summer.

• 200-day moving average breach.

• Heavy bought-to-open calls for December expiration reside at the 52.5-strike, which was clearly broken this morning resulting in a delta-hedging rally.

• 10-day buy-to-open put/call ratio 1.22, ranks in the 91st percentile, indicating a strong preference for puts.

• Eight out of 24 analysts still maintain ?hold? ratings, potential for further upgrades.

• All-time high made in mid-April at $62.00, next intermediate-term target.

This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

Below, find some more great content from Schaeffer's Investment Research:

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Twitter: @schaeffers

No positions in stocks mentioned.

Source: http://www.minyanville.com/trading-and-investing/stocks/articles/SBUX-SBUX-chart-of-the-day/12/6/2012/id/46452

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