Starbucks Corporation SBUX are trading lower by $0.77 (1.4 percent) at $54.45 in Wednesday's session. It's now trading lower for the fourth day in a row since it delivered a mixed Q4 report on January 26; EPS came inline but revenues missed by $11.7 million.
Following the subpar report, the issue swooned from its January 26 closing price of $58.46 to $56.12. In the next three sessions, including today's price action, it has been unable sustain its previous day's closing price for very long and drifted lower for the remainder of the sessions.
It's now approaching its November 16 low ($54.26) as $54.34 stands as the current low for the day. If that low is breached, there may be additional support at its November 15 low of $53.90 as well at its November 14 low of $54.50.
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