Starbucks, the leading coffee group doesn’t seem to quit the hot stocks to watch on NASDAQ Index. This Tuesday, the group has announced the acquisition of La Boulange Bakery for 100 million dollar. This investment will allow Starbuck to purpose La Boulange products in its stores and strengthen its food and meal offered.

From fundamental viewpoint, the company reported a second quarter better than expected with a net result 4.2% up to the consensus, in spite of the European weak consumption. Turnover should increase 13% for fiscal 2012 and net result will follow this growing movement. EPS is expected at USD 0.69, representing a 23% growth.

Technically the stock recorded a recent decline about 20% from its highest historical recorded in April. The security evolves now close to its USD 51.1 support, representing an optimal entry point. The 100 and 50-days moving average will cross close to USD 53 and this level could be a support area in the perspective of a new upward trend.

Starbuck is an interesting investment opportunity due to its current market price and the fundamental situation. Investors could take a buy position on this security with an objective at USD 55.6. A stop loss will be engaged at USD 50.9, below the short term support.