Shares of coffee giant Starbucks ( SBUX) made a rally on the announcement of new CEO Laxman Narasimhan and aggressive growth plans, but the charts have started to turn lower once again.
Let's check on the charts. 
In the daily bar chart of SBUX, below, we can see that the shares have turned back below the 200-day moving average line and below the 50-day line. A trading volume spike earlier this month appears to mark the high for the move up.
The On-Balance-Volume (OBV) line has turned down from mid-month and tells us that traders have reversed gears from being aggressive buyers to aggressive sellers. The Moving Average Convergence Divergence (MACD) oscillator made a lower high in September when prices made a higher high. This is a bearish divergence and adds to the bearish setup.
In the weekly Japanese candlestick chart of SBUX, below, we can see a top reversal pattern in the end of August and early September. The shares have retreated below the 40-week moving average line.
The weekly OBV line looks like it is making a small double top in August-September. The MACD oscillator has been improving from below the zero line but it has quietly begun to narrow -- a sign of a coming sell signal.
In this daily Point and Figure chart of SBUX, below, we can see a downside price target in the $75 area.
In this weekly Point and Figure chart of SBUX, below, we can see an upside price target in the $100 area but a trade at $81.44 or lower could turn the chart bearish.
Bottom-line strategy: Instead of buy, hold and sell maybe for SBUX it should be drip, french press and cold brewed. The charts of SBUX have turned from up to down and traders should avoid the long side.
