Looking at the weekly chart of Starbucks (NASDAQ: SBUX), a good buy level for a swing trade is coming up at roughly $50. There are at least FIVE factors aligning at this level increasing the odds of a bounce here. A couple to note are the 3rd hit of an up-sloping trend line and a 0.618 fib retrace.

$SBUX action today is very weak. It can’t catch a bid with the markets up, so it may hit the $50 level sooner than later. Be ready!    

By Pro-Trader