- Market Analysis -

February 17, 2010 (FinancialWire) (By Frank Kollar) — Shares of Starbucks Corp (NASDAQ: SBUX) are mounting a solid attempt to regain losses from their January 21 to February 5 decline.

Shares will hit strong resistance at the $23.50 level which stopped an almost year long advance. This is also the 50% retracement level for the entire bear market decline for Starbucks and is an important level.

If shares can break out and close decisively above $23.50, Starbucks should run to $27.41, the 61.8% retracement level for the bear market decline.

A close below $21.20 would point to further declines and another leg down for the correction, possibly to test the $18.70 level.

The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Starbucks.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent. For 2008-2009, his strategy resulted in a 81.9% gain, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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