Starbucks Corp Finds Resistance After Q1 Report

Starbucks Corp

shares are trading lower by $0.60 at $58.43 in Friday's session. Its penny beat for EPS has been offset by a slight miss on revenues. After a lower open, it immediately bottomed at $57.41 and began to move higher. The ensuing rally has found resistance in a familiar area. In four of its last five session it has peaked in a narrow area between $59.38 and $59.43. Today's rally has stalled at $59.40 and the issue retreated into the $58 handle.