Starbucks Price Levels to Watch as Stock Drops After Company Suspends Outlook
Starbucks(SBUX) Investopedia·2024-10-23 23:40
Key TakeawaysStarbucks shares dropped in premarket trading on Wednesday after the global coffee chain suspended its 2025 outlook and reported disappointing preliminary quarterly results, as new CEO Brian Niccol starts implementing a turnaround strategy.Buyers have defended the lower trendline of a symmetrical triangle and the 50-day moving average, though the stock sits poised to break down below the pattern.Investors should monitor key support areas on Starbucks' chart around $90 and $83, while watching ov ...