(CNBC) Starbucks shares popped more than 1 percent after it reported earnings after the bell Thursday. The company reported adjusted earnings of 56 cents a share on $5.71 billion in revenue, beating Wall Street expectations. Overall, same-store sales for the company rose 4 percent during the quarter, with same-store sales in the Americas up 5 percent and China growth up 6 percent.The company cited a 1 percent decrease in traffic for the lower-than-expected same-store-sales growth in the U.S. However, average ticket price increased by 6 percent, buoying sales. The company's stock has been battered by poor earnings and an industry-wide slowdown in sales in recent quarters, sending shares down more than 13 percent year-to-date. On Thursday, the stock traded at a new 52-week low of $51.77. (Article from CNBC)SBUX Daily Chart 11/4(click to enlarge)New 52-week low:- SBUX has been consolidating since failing to push above 64.00 in 2015. - We can say that stock price has been consolidating in a descending triangle as seen in the daily chart .- This week, that triangle broke to the downside.- The breakout opens up a bearish trend in the short to medium-term. We are basically seeing a significant correction against SBUX's long-term bull run. - Looking at the weekly chart, I wouldn't be surprised if price came down to 45 at some point during this correction. Key resistance:- Let's see what kind of reaction we get today and through the next week. - If earnings report gives SBUX a little support, expectresistance if price gets back to 54-55 area. SBUX Weekly Chart(click to enlarge)