Friday, November 4, 2011

Starbucks hits new highs...

Starbucks (SBUX) is hitting new highs as the coffee chain reported third-quarter earnings that squeaked by Wall Street views while revenue cleared estimates by a healthy margin.

Starbucks also raised its dividend 31% and approved a 20 million share buyback program. The stock had formed a three-weeks tight pattern after retaking a 39.49 buy point in a cup-with-handle base. The stock triggered the 8% sell rule following its initial move above that buy point.

The stock is up 1.47 to 43.98 today:

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