- Technical Market Commentary -

April 8, 2010 (FinancialWire) (By Frank Kollar) — Shares of Starbucks Corp (NASDAQ: SBUX) broke out to new 2009 – 2010 highs on heavy volume Wednesday, March 10. But share prices have pulled back since that date.

Starbucks shares then corrected to the 50% retracement level for the February to March rally. Since reaching that level on April 1, Starbucks has again been moving higher and closed Wednesday, April 7 at $24.91, only 65 cents from its 2010 closing high at $25.56.

If Starbucks can make a decisive close above $25.56, share prices should continue to rally and reach the target for this advance at $27.41 in coming weeks.

This is the 61.8% retracement level of the entire bear market decline for Starbucks. It is also a 10% gain from Wednesday’s close.

Disclosure: 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 and 2008 bear markets, his bearish positions resulted in gains exceeding 100 percent, 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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