SBUX Starbucks April 13

This stock is completely out of phase with the rest of the market as it’ decline started at least a full year before the market in general. It is also a little late in the game but IMO there is room enough to the upside left to make it worthwhile.  Here are the charts.

SBUX april 13 2

Or with a little more detail;

SBUX april 13

Talk about “regression to the mean” and then some. This one went right back to the inflection point (wave 4) and often that is enough for the time being. A move back to about $17-$18 is a very reasonable expectation. I must confess that I do not understand why people pay so much for coffee, but that does not stop me believing that they will continue to do so.