Carter Worth Expects A Correction In Starbucks Corporation

On CNBC's Options Action
, Carter Worth spoke about his expectations for
Starbucks CorporationSBUX
. He presented a couple of charts with historical performance of the stock and showed that it is currently trading significantly above its trend line. Worth thinks that the most probable scenario is a return to the trend line. He also analyzed coffee prices and he showed a pattern on a chart that looks to him as a bottoming process. Higher coffee prices are not good for profitability of
Starbucks Corporation
and in the past, the stock went into a correction phase every time when coffee traded higher. On the other hand,
Starbucks Corporation
performed well on sell offs in coffee.
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SBUXStarbucks Corp
$93.44-0.93%

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Momentum
71.38
Growth
36.60
Quality
Not Available
Value
21.74
Price Trend
Short
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