- Technical Market Commentary -

October 14, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Starbucks Corp. (NASDAQ: SBUX) rallied on Tuesday, October 12, following positive comments from Credit Suisse. Analysts there raised 2011 and 2012 estimates for the company while maintaining an outperform rating. The one-day rally pushed the stock’s per-share price above the $26.20 resistance level, which had held share prices from advancing since September 20.

Starbucks should have no difficulty surpassing its June closing high of $28.09. After that, the path is wide open, with no real resistance until the $35.00 to $40.00 levels that were reached in 2006 (before the bear market that decimated this stock).

Starbucks needs a decisive close above $28.09 to be considered a breakout.

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(Go to http://www.financialwire.net/2010/05/01/about-kollar/ for more about Mr. Kollar, and go to http://www.financialwire.net/?s=kllrfby for more of Kollar’s commentaries.)

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Disclosure: Frank Kollar’s Fibtimer.com (http://www.fibtimer.com/) ETF Timing Strategy has a position in the Starbucks.

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