Starbucks continues to see a strong retracement from the 2022 low of $68.43. Price targets have been upgraded.

Starbucks continues to see a strong retracement to the upside. Pre-market prices look to open at around $90.00 where the 38.2% fib sits. A nice move above here could see the stock head towards $97 where the 50% fib sits. Citi bank has also upgraded Starbucks stock with a price target of $94 in the medium term. Towards the downside, support sits at $84.70, followed by major support at $82.07 (23.6% fib). A break here could see the stock fall towards its lows of $68, though this is unlikely in the short term unless bad economic data continues to be released.