- Technical Market Commentary -

October 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Starbucks Corp. (NASDAQ: SBUX) rallied last Tuesday, October 12, following positive comments from Credit Suisse. The one-day rally pushed prices above the $26.20 resistance level that had held share prices from advancing since September 20, which was a breakout for Starbucks.

Since that breakout, though, Starbucks has stopped advancing and appears to be unable to close above its June high of $28.09.

If Starbucks does achieve a decisive close above $28.09 there is little to stop the advance from reaching the $30.00 to $32.00 level in short order, so watch for a close well above $28.09 as a potential new buy signal for this widely followed stock.

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The FirstAlert(tm) Morning Digest lists economics calendar events, earnings announcements, financial community conferences, company presentations and more. Go to http://www.financialwire.net/2010/10/21/fa-am-digest-16/ for today’s The FirstAlert(tm) Morning Digest summary.

(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 Starbucks.

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