Starbucks (NASDAQ:SBUX) is a leading marketer and retailer of coffee products around the world. The stock peaked out on June 5 at $45.87 a share. Since that pivot top, the stock has declined to $60.81 a share. On Tuesday, Starbucks sat right on its 50-day moving average, which could be viewed as short-term support. Traders should also watch $59.50 — a major retrace level — and the support levels from April 28 and May 18. Often, past support levels serve as major support when retested.