As we mentioned here yesterday, SBUX is displaying a nice narrowing trading range, also know as a bullish pennant.  The pattern usually resolves to the upside, but should it break to the downside could lead to a quick and violent move.  As of this writing the stock is just dropping out of the formation to the downside.  it's still a little too early for our taste to enter here but we are watching it like hawks.  

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