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Starbucks Q3 Earnings May Tank The Stock Once More

Summary

If Starbucks comes in a bit short on earnings and the stock sells off as a result, it will be short lived as value players would enter the fray.

A positive earnings number could spike it above heavy resistance at the $60 level.

So far this year the stock hasn't convinced the market that it has strong growth triggers ahead of it. Fiscal Q3 could be the turning point.

Starbucks (NASDAQ:SBUX) announces earnings after the bell on the 21st and analysts are expecting an EPS of $0.49 and revenues of $5.34 billion. Last quarter, the coffee house chain came in light on the revenue side and guidance pointing to disruption in store traffic trends due...


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