Bat Pattern on COST, and I'm always a big fan of this company.
According to the chart, there is a Bat pattern on COST and it suggests a 159.63 (0.886XA); while the trade may already fail if you traded it perfectly right to give the out to 1cent below X(156.59).
I've waited for a while for an actionable set-up to long COST, and I believe it's coming soon.
In my opinion, COST is a kind of company that is both great for trading and investing.
In terms of mid-term to long-term investment, it's nonsense to put stop loss only 2% away, so if I were in the trade I prefer using at least 149.99 of even all the way back to 141.99.
While as the Bat trade actually failed, I may wait for another bullish set-up to get involved with the stock.
Most important of all, this downside move since the AMZN-WFM deal had nothing to do with COST's fundamental, which is kind of a systematic risk event on all the retailers and wholesalers.
COST remain strong despite on-line shopping being a huge trend all these years; I don't really think when the on-line shopping giant acquire a huge physical retailer will hurt the business too much more, or at least not that fast yet.
On-line shopping is no doubt the future, while the expression is true for all these years.
I don't think AMZN-WFM deal will do much harm to COST's business, at least not that fast, so the pullback is a huge overreaction and it creates recent buying opportunity for COST.
I've waited for a while for an actionable set-up to long COST, and I believe it's coming soon.
In my opinion, COST is a kind of company that is both great for trading and investing.
In terms of mid-term to long-term investment, it's nonsense to put stop loss only 2% away, so if I were in the trade I prefer using at least 149.99 of even all the way back to 141.99.
While as the Bat trade actually failed, I may wait for another bullish set-up to get involved with the stock.
Most important of all, this downside move since the AMZN-WFM deal had nothing to do with COST's fundamental, which is kind of a systematic risk event on all the retailers and wholesalers.
COST remain strong despite on-line shopping being a huge trend all these years; I don't really think when the on-line shopping giant acquire a huge physical retailer will hurt the business too much more, or at least not that fast yet.
On-line shopping is no doubt the future, while the expression is true for all these years.
I don't think AMZN-WFM deal will do much harm to COST's business, at least not that fast, so the pullback is a huge overreaction and it creates recent buying opportunity for COST.
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