GO
Loading...

Brian Kelly: Starbucks Breaking Above $44 Bullish Technical Sign

Starbucks landed on the trader radar after the company posted a big jump in fourth quarter profits, hiking its dividend by 31%.

How should you trade it?

Symbol
Price
 
Change
%Change
SBUX
---

”Starbucks is doing everything right and at the right time in my opinion,” says Pete Najarian. “I think it’s good to own.”

”Breaking above $44 is technically bullish,” muses Brian Kelly.

”Technically it’s been looking great ever since David Einhorn said negative things about rival Green Mountain Coffee,” adds Steve Grasso.

“The only knock," adds Kelly, "is that it trades at 24 times earnings.”




______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.


Trader disclosure: On Nov 4, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; J. Najarian is long ANR; J. Najarian is long AKS; J. Najarian is long MS; J. Najarian is long GMCR; J. Najarian is long FSLR; J. Najarian is long DB; J. Najarian is long CME; J. Najarian is long CBOE; J. Najarian is long CIGX; J. Najarian is short SKUL; Grasso owns AA ; Grasso owns AKS; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns S; Grasso owns XLU

For Brian Kelly
Shelter Harbor Capital is long SPY
Shelter Harbor Capital is long GLD
Shelter Harbor Capital is long MOO
Shelter Harbor Capital is long Soybeans
Shelter Harbor Capital is short CAD
Shelter Harbor Capital is Euro Stoxx

For Steve Grasso
Stuart Frankel & Co and it’s partners own (CSCO)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HPQ)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own MET
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own UAL
Stuart Frankel & Co and it’s partners own XRX

For Rick Summer
No disclosures

For Patty Edwards
Trutina Capital is long AAPL
Trutina Capital is long GLD
Trutina Capital is long INTC
Trutina Capital is long AMZN
Trutina Capital is long GOOG
Trutina Capital is long JWN
Trutina Capital is long SBUX
Trutina Capital is long TGT

For David Flynn
No disclosures

For Jens Nordvig
No disclosures

For Sanjay Shrestha
Lazard Capital Markets LLC makes a market in FSLR securities.



CNBC.com with wires.

Symbol
Price
 
Change
%Change
SBUX
---

Featured

Contact Halftime Report

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET