The S&P 500 is up around over 4 percent the last four weeks, but Starbucks is underperforming and is barely positive over the same timeframe. In fact, SBUX is well below its July high and recently broke wedge support. The indicator window shows momentum deteriorating as MACD moves below its signal line and approaches negative territory.
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
