Starbucks Price Levels to Watch as Stock Drops After Company Suspends Outlook
Key Takeaways
- Starbucks shares dropped in premarket trading on Wednesday after the global coffee chain suspended its 2025 outlook and reported disappointing preliminary quarterly results, as new CEO Brian Niccol starts implementing a turnaround strategy.
- Buyers have defended the lower trendline of a symmetrical triangle and the 50-day moving average, though the stock sits poised to break down below the pattern.
- Investors should monitor key support areas on Starbucks’ chart around $90 and $83, while watching overhead levels near $99 and $107.50 during a recovery.
Starbucks (SBUX) shares fell in premarket trading on Wednesday after the global coffee chain suspended its 2025 outlook and reported preliminary fiscal fourth-quarter results…
