- Technical Market Commentary -

(Go to http://www.financialwire.net/?s=cmmtry for todays and other recent commentaries.)

May 12, 2010 (FinancialWire) (By Frank Kollar) — If anyone is looking for a stock that is holding up well in these extremely volatile times, look no further than at shares of Starbucks Corp. (NASDAQ: SBUX).

Starbucks broke out to new highs back on April 22, and since that date, with the exception of the two days affected by last week’s mini-crash, have held above $26.00 a share.

On six trading days April 22, Starbucks has come close, intra-day, to breaking out above $27.42. This is a critical resistance level and marks the 61.8% retracement of Starbuck’s entire bear market decline.

If Starbucks can close decisively above $27.42 it will be a new breakout. With strong support at $26.00 and a potential breakout at $27.42, Starbucks is a strong candidate for a bullish trade here with a stop just below $26.00.

to http://www.financialwire.net/2010/04/22/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby+cmmtry for more of Kollar’s commentaries.)

(Go to http://www.financialwire.net/?s=cmmtry for all of today’s commentaries.)

Disclosure: Frank Kollar’s Fibtimer.com Stock Timing Strategy holds a position in Starbucks.

The FirstAlert(tm) Economics Calendar lists the International Trade for March (8:30 am ET); EIA Petroleum Inventories (10:30 am ET); Treasury auctions 10-year notes (1 pm ET); Treasury Budget Statement for April (2 pm ET).

The FirstAlert(tm) Events Calendar showcases AHT, EHTH, RURL, ENSG at the JMP Securities Research Conference; ESE, FSLR, NRG at the Deutsche Bank Securities Alternative Energy, Utilities & Power Conference; FTWR, INAP, TWTC, ABVT at the Jefferies Global Internet, Media & Telecom Conference; GR, HON at the Macquarie Capital Industrial Conference; HBAN, SLF, BOH, BBVA at the UBS Global Financial Services Conference; MWE at the Master Limited Partnership Investor Conference; PRKR, CASM at the MDB Capital Group Bright Lights Conference; SGEN, ALGN, CI, RHB at the Bank of America Merrill Lynch Healthcare Conference; WCBO, PCBK, EPAY, EWBC at the D.A. Davidson Financial Services Conference; XTEX, XTXI at the NAPTP MLP Investor Conference.

FirstAlert(tm) Website of the Day: http://www.imsbarter.com

Quotes of the Day: "The worst moment for the atheist is when he is really thankful and has nobody to thank." –Dante Gabriel Rossetti (05/12/1828 – 04/09/1882), English artist, poet , brother of Christina; "If you obey all the rules, you miss all the fun." –Katharine Hepburn (05/12/1907 – 06/29/2003), US actor.

Today is: Receptionists Day

Happy Birthday: 1948 – Steve Winwood, British musician; 1963 – Vanessa A. Williams, American actress; 1968 – Tony Hawk, American skateboarder.

Today in History: 1965 – The Soviet spacecraft Luna 5 crashes on the Moon; 2002 – Former US President Jimmy Carter arrives in Cuba for a five-day visit with Fidel Castro becoming the first President of the United States, in or out of office, to visit the island since Castro's 1959 revolution;

FirstAlert(tm), published exclusively by FinancialWire(tm), was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend or of FinancialWire(tm).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” webpage (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[ssryrsyr] [frstlrtrlts] [frstlrtdlycmmt] [cmmtry] [tchnlf] [mrktqr] [kllrfby]

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.