Starbucks in Italy: Giovanni's Doppio is Still Waiting on the Counter

Over the last several years, the "americanizazione" of Italy, becoming more and more Americanized, has been rather apparent. 

With the recent news of Starbucks open their first stores in Italy, the issue is whether this type of news officially jumps the shark, representing a line which most Italians simply will not cross.  Specifically, Italian espresso is a national treasure, something in which Italian take a good deal of pride. In fact, various parts of Italy boast about how good their espresso tastes relative to other parts of the Boot due to their superior water quality, for example. 

But times always change. And SBUX is betting on the spectacle and atmosphere, above the burnt coffee and sugar bombed-specialty drinks, bringing in Italians. 

The main reason I find this news intriguing is the technical position SBUX is at on the long-term timeframe. Note the weekly chart, below, with a pronounce potential head and shoulders likely near the do-or-die moment, with a $53 neckline below. Also note today's relative weakness to the market, in addition to the likes of NKE and the FANG names. 

Indeed, it would be poetic if SBUX officially topped on the Italy news--Recall several years ago when overly-ambitious expansion doomed SBUX in the years Howard Schultz was not CEO. They may be making the same mistake twice.