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Starbucks shares close lower for a sixth straight session on Thursday, company faces criticism regarding its latest hiring decision

Starbucks Corporations plan to hire refugees, which the company announced last Sunday, has recently been criticized on social networks by some of its clients. Individuals were reported to have used #BoycottStarbucks in order to influence customers decision of visiting the retailers stores. Additionally, screen shots appeared, where users demonstrate how they are removing Starbucks Corps app from their smart phones. However, the coffee chain has also received some support from other users, including actress Jessica Chastain.

Starbucks shares retreated for a sixth consecutive trading session on Thursday. The stock inched down 0.06% ($0.03) to $53.87, with the daily high and the daily low being at $54.39 and $53.85 respectively. In the week ended on January 29th the shares of the coffee chain lost 2.67% of their market value compared to a week ago, which marked a second consecutive period of decrease and also the worst performance since the week ended on September 11th. The stock retreated 0.54% in January to mark its second straight month of decline. For the entire 2016, the shares of the NASDAQ-listed retailer lost 7.51%.

On January 29th Howard Schultz, the Chief Executive Officer of Starbucks Corp (SBUX), announced that the coffee chain intended to hire 10 000 refugees in 75 countries within a period of five years. The news came two days after US President Donald Trump signed an executive order, which suspended entry in the US of all refugees for a period of 120 days and also barred individuals fleeing from Syria indefinitely. At the same time, travelers from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen will not be allowed to enter the United States for a period of three months.

According to Schultz, the company’s hiring efforts would be focused at first on persons who have served with the US military as interpreters and support personnel abroad.

It was back in 2013, when Starbucks had revealed plans of hiring 10 000 veterans and military spouses in five years. According to information revealed yesterday, more than 8 800 veterans and spouses have been hired by the company so far, while its hiring goal may be reached earlier than projected.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Starbucks stock are presented as follows:

R1 – $53.92
R2 – $53.97
R3 (Range Resistance – Sell) – $54.02
R4 (Long Breakout) – $54.17
R5 (Breakout Target 1) – $54.34
R6 (Breakout Target 2) – $54.41

S1 – $53.82
S2 – $53.77
S3 (Range Support – Buy) – $53.72
S4 (Short Breakout) – $53.57
S5 (Breakout Target 1) – $53.40
S6 (Breakout Target 2) – $53.33

By using the traditional method of calculation, the weekly levels of importance for Starbucks Corporation (SBUX) are presented as follows:

Central Pivot Point – $56.92
R1 – $58.20
R2 – $60.27
R3 – $61.55
R4 – $62.82

S1 – $54.85
S2 – $53.57
S3 – $51.50
S4 – $49.42

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