While the equities market was reeling, Starbucks $SBUX managed to surge into new all-time-highs in October/November. However, it eventually pulled back as the equities market continued to fall sharply just ahead of Christmas and New Years. Starbucks Daily Chart (click to enlarge) Pullback:- In early November, we can see that price jumped up from below $60 to almost $69, which is a historic high. - Then it retreated and is just above $60, where it found some support. Note almost all names found support/buying on 12/26, - Still, SBUX is finding support at a key level - around $60. - We can anticipate some more downside to $59, but this previous resistance area, along with a rising trendline, should provide support in the $59-$60 area. - A break below $59 might be worrisome for the bullish market, but above $60, SBUX looks bullish with upside to $70.