SBUX bottom fishing

SBUX came up with in line results yesterday. The shares soared from 59 to over 63 for a few minutes and then it slowly dropped to around 55.5 at close. Now it is trading below 54. I believe it is great stock to won and good time to short term bottom fishing. My short term target is $58.

 

KISS chartist here. If you wanna "Buy The Dip", I see support @ 50, 40, and 32. All else = noise.

 

what happens if it goes to $32? Will you buy it or you will say there are more supports at 22, 11 and 1?

You have to get your hands dirty at some point but keep enough ammunitions for possible future surprises.

 

Never a good idea to go long a stock making new lows.
Vice versa on shorting a stock making new highs.
I told you this before Haj.
Park your money in Facebook and go on a cruise.

 

If you play 32 for a long and it breaks, you stop out. Jeez. (There's an "if it does/doesn't" to every trade.)

 

I see some support around 53, we'll see if it holds.