Wednesday, June 22, 2011

Starbucks (SBUX) Straddle update

As an update to a possible trade I had looked at in a previous post, it seems as though Starbucks is starting to test its upper threshold here, as you can see its broken out of the triangle (shown in yellow) that it had been forming and the reason for the trade, and now looks to get out of its regression channel (shown in purple). Should it continue up, the last test will ultimately be its recent highs at 38.21. Right now with where I got into this trade it is up approximately 4% and at this point going to hope we can continue this uptrend even with stocks looking like they might be turning.

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