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 […]
Starbucks (SBUX) is brewing up a beauty of a pennant pattern. Bullish pennant pattern such as these break up and out of the pattern by definition. A breakout in either direction of the pennant however could lead to a fast and furious move.