SBUX – Starbucks

The MACD Histogram on this 2 year weekly chart suggests some continued selling pressure in the coming week as it has just turned into selling momentum from buying momentum. Based on the selling momentum and increasing volume the last 2 weeks, I would wait for a purchase possibly in the lower end of the purchase zone of $53.50 – $58; like maybe around $56.25 or lower. $56.25 is where the trendline support is right now. I would wait to make sure the $56.25 area trendline is going to support and starts to rebound for an add-on position.