Starbucks Stock Gains Despite Cooling 2024 Sales Outlook—Key Price Levels to Watch

Key TakeawaysStarbucks shares rose in pre-market trading Wednesday even as the coffee chain cut its fiscal 2024 full-year sales outlook amid challenges arising from political boycotts and slowing international sales.Starbucks CEO Laxman Narasimhan told analysts on the earnings call that the Chinese market faces increasing competition from lower-priced rivals.The Starbuck's share price continues to oscillate within a descending channel, with the pattern's upper and lower trendlines marking key support and re ...