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Tuff-Stuff

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Re: Tuff-Stuff post# 550162

Thursday, 10/30/2014 2:25:09 PM

Thursday, October 30, 2014 2:25:09 PM

Post# of 648882
Starbuck Earnings Trade Ideas for Less Than a Pumpkin Spice Latte

Posted by Greg Harmon
on October 30th, 2014

Sale Ends October 31st!

Starbucks, $SBUX, played out a bearish Shark harmonic for most of the first half of 2014. Reversing at the Potential Reversal Zone (PRZ) it retraced over 61.8% of the pattern before finding support and turning back higher. It is currently consolidating at 38.2% of that Shark retracement into the earnings report tonight after a strong move higher. A move higher out of consolidation would look for a full recovery of the drop on a Measured Move as shown in the chart below. Into earnings the Relative Strength Index (RSI) is rising and has moved into the bullish zone with the MACD rising. These support more upside, although do not guarantee it tonight.

MORE http://dragonflycap.com/2014/10/30/wed-pm-76/

Pray for A Pain Free Day!

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