Starbucks $SBUX has been rallying from around $48 since late June and into the first week of September before finding resistance around $55.55. SBUX Daily Chart(click to enlarge)Short-term Bulls vs. Resistance:- The area around $55-57 is a key resistance area. - The 9/18 session is completing a bullish engulfing candle, which signals bullish strength pushing higher into this resistance area. - As we can see from the weekly chart, SBUX still has a long-term bullish outlook, but has been essentially sideways since 2016. - The price action in June 2018 completed a price top so the trend shifted from neutral to neutral-bearish. But price held above the rising trendline coming up from the 2009 low around $4, so we can't say that SBUX is bearish. In other words, it is at the crossroad between a long-term uptrend, and a medium-term consolidation/correction.- In the short-term it is bullish, but will be challenged as it pushes towards $57.Bullish Continuation?- Now, if price can push above $57, the bullish continuation scenario will start to emerge.- A hold above $52 would improve the possibility. Then a break above $60 would be another bullish continuation signal, especially if the weekly RSI pushes above 60 - this would reflect loss of the prevailing bearish momentum.- However, if price returns below $52, we might see SBUX in more consolidation with bearish risk to $48 and maybe lower, towards the $40-$42 critical support area. SBUX Weekly Chart(click to enlarge)