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Berger: Is a sell-off brewing at Starbucks?

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Predicting a turbulent trading environment in 2015, Serge Berger, better known as The Steady Trader, is closely monitoring the Consumer Discretionary sector of the S&P 500. In particular, Serge is interested in selling Starbucks, Corp. which has experienced a period of rocky trading recently.

In 2014, Starbucks added 1,599 new stores and generated operating revenue of USD 3.1 billion, 24% increase from the previous year. The company is targeting growth in Asia, where it opened 792 of its 1,599 new retail locations. These positive signals pushed the stock close to its all-time high in December; however, the stock witnessed a quick reversal from this important technical high. Over the past year, the company’s stock has moved with the highs and lows of the broader market, creating a choppy trading pattern. Serge believes that there is compelling evidence for a continued move to the downside after last week’s important rejection of gains.

Serge is looking to short the stock at USD 81.00 with a target of USD 77.50. A stop can be placed at USD 83.25.

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