Starbucks shares close lower on Friday, executive Adam Brotman to leave the company and join J. Crew Group

Adam Brotman, the person who led Starbucks Corps digital initiatives such as loyalty program and mobile ordering, is to part ways with the company and join J. Crew Group Inc as Chief Experience Officer, the coffee shop chain announced on Friday.

Starbucks shares closed lower for the first time in the past six trading sessions on Friday. The stock edged down 0.18% ($0.10) to $56.48, after touching an intraday high at $57.05, or a price level not seen since January 31st ($57.45).

In the week ended on February 18th the shares of the coffee chain added 3.48% to their market value compared to a week ago, which marked the first gain out of four weeks. It has also been the best performance since the week ended on January 7th.

The stock has retreated 0.58% so far during the current month, following a 1.08% slump in January. The latter has been a second straight month of losses.

For the entire past year, the shares of the NASDAQ-listed retailer gained 3.44% following a 7.51% drop in 2016.

Brotman will also be appointed as President at J. Crew and will report to Chief Executive Officer James Brett.

He joined Starbucks Corp back in April 2009 and most recently occupied the post of Executive Vice President of global retail operations and partner digital engagement.

At Starbucks, Brotman also served as Chief Digital Officer in charge of overseeing the companys initiatives such as mobile order and pay, loyalty, as well as its e-commerce and the Starbucks Digital Network.

According to Reuters, as of the end of last year, mobile orders comprised 11% of all transactions at Starbucks stores located across the United States, while loyalty card users contributed to 37% of the coffee chains net revenue.

According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Starbucks Corporation’s stock price, have a median target of $65.00, with a high estimate of $72.00 and a low estimate of $57.00. The median estimate is a 15.08% surge compared to the closing price of $56.48 on February 16th.

The same media also reported that 22 out of 34 surveyed investment analysts had rated Starbucks Corporation’s stock as “Buy”, while 11 – as “Hold”.

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 – $56.55
R2 – $56.61
R3 (Range Resistance – Sell) – $56.68
R4 (Long Breakout) – $56.87
R5 (Breakout Target 1) – $57.10
R6 (Breakout Target 2) – $57.19

S1 – $56.41
S2 – $56.35
S3 (Range Support – Buy) – $56.28
S4 (Short Breakout) – $56.09
S5 (Breakout Target 1) – $55.86
S6 (Breakout Target 2) – $55.77

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

Central Pivot Point – $56.03
R1 – $57.50
R2 – $58.53
R3 – $60.00
R4 – $61.48

S1 – $55.00
S2 – $53.53
S3 – $52.50
S4 – $51.48