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Starbucks (SBUX) Ending Correction and Turning Bullish

Starbucks Corporation (NASDAQ: SBUX) began the new year slightly below its long-term plan as revenue only improved by 7% and earnings per share rose 11%. The company continues to target earnings growth of between 15% and 20% each year through 2021 with its aggressive expansion plan, which aims to add 12,000 new locations over the next five years to boost its store base by 50%. Consequently , investors shouldn’t panic to the short term macro-related weakness and focus on the bigger picture of the coffee giant .

Starbucks Daily Chart Technical Analysis

The stock did 5 waves from November low $50.84 and currently ended a 3 waves correction after it reached equal legs area $54.47 – $53.41 , so now the stock will either resume the move higher from current levels or just...