Short

COST dead cat bounce nearing the end

Updated

COST bounced nicely off oversold zone but now seems to be stalling. Volume profile at 527 is proving difficult to get past. Level to watch is a close below 514. Will quickly see it retest its breakout zone at 495. Will have to wait to see what it does at 495 if we get there.

Note

I am still too bias on the bear side of the market. Should have seen a decent cup and handle here. My problem.

Note

Looks like I got caught in the bull trap lol. Breaking down now. Can see 475 again next week.

Jlov

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.