Peter Lee, Chief Technical Strategist at UBS in New York, gives his monthly technical outlook for 49 key stocks.
Since his last report of 1 June there has been only one rating change; a downgrade for Starbucks from “Neutral” to “Bearish”. Lee says that a large gap down, a negative outside week and a weekly death cross sell signal have led to violation of Starbucks’ key supports at 54-55 and confirmation of a top. He thinks the risk is now towards the mid-40s and possibly lower.
See table below for a summary by sector.
Read the full report.