I love Costco but I will short it!Not and advice this is just for fun guys. Do not chase the money do it for fun :)
COSTD trade ideas
COSTCO Strong buy opportunity on a 2-year old fractalPattern: Channel Up on 1W.
Signal: Buy as the price broke above its Resistance (and November 2020 High), in a similar sequence as the April-May 2019 fractal. Even the RSI sequences are identical indicating that the price is breaking outside of this consolidation pattern.
Target: Within the 1.5 - 2.0 Fibonacci extension zone (as in 2019).
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COST broke out of a long term resistance. Can it hold?It's been a few days since COST broke out of the long term resistance of $389.58 that was forming since November 2020.
The question now is, can it hold?
Two reasons why I think it can.
1. It consolidated after a move higher and made a new 52 week high
2. Its expected to do well in the coming year.
Now, looking at its past performance I think COST will come back to retest the $387.60 to $389.58 range before moving higher.
The main reason why I think this is because the breakout didn't have a large amount of volume kicking it higher; and because the follow through also doesn't have a lot of volume.
Final thought:
COST did break and I think it'll continue to move higher but not before retesting the broken resistance.
This is one to keep an eye on for sure.
COST STOCK BUY OR LONG, TARGET $460COST has confirmed the "Cup And Handle" pattern, the target will be the $460 area with a loss of 6%.
CupAndHandle
3 U.S. Stocks That Appear Overextended To the UpsideThe following names appear overextended to the upside and may be due a retracement, creating a short term shorting opportunity.
Nvidia - we recommended the name on radio at $527 on 16/03. It's since been a strong performer, closing at $762 on Wednesday. Note the bearish divergence as per the 7-day RSI.
DocuSign Inc. - Over a 7-week period, the stock has advanced from $180 to $274. If $272 fails to hold then we could see a move back to the low $250s.
Costco Wholesale Corp. - Trading near multi-month highs, the higher price (and 22 June breakout) is not being confirmed by a higher 7-day RSI i.e. bearish divergence. Failure to hold $389 should see a move down to ~$375.
*Any failure to hold the prior day highs should be seen as an early signs of a slowdown in upside momentum.
Costco New ATHs ReachedCostco hit its ATH today, it also has triple hidden bullish divergence on the monthly MACD and hidden bullish divergence on the monthly RSI
Cup and HandleLooks like a cup and handle. Price is going down today.
I suspect it will retest the top of the handle and breakout.
Costco clearing 5 week consolidation.We can watch smaller timeframes to see if the break holds in nearest days.
COST Breakout watchI like COST long in and above the green box for a potential ATH breakout. Nice consolidation at the high after deep pullback and recovery. Targets = dotted black line and fib extension. Not interested if price drops back below 375.
pullback started?COST has begun a pullback of the recent bull run. I think the 200 daily SMA is a good target. Caveat emptor!
Cost - consolidating for next push ?Cost consolidating well near weekly SZ with higher lows , showing more buyers so far , looking good for next weekend 390c swing trade
Breakout on costco PT 392.I see costco breaking out to 392, this week will determine that.
I am not a financial advisor. Do not take as financial advice, ever.
Do your own research.
Consult a professional investment advisor before making any investment decisions! My Tweets are for entertainment only!
$COST with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $COST after a Negative Under r reaction following its earnings release placing the stock in drift D
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bullish on ascending triad on $COSTreasons behind my call out:
bullish divergence
good earnings report
positive catalyst about samples & churros returning
trend line bounce
COST Replay....So I doubled up on puts this morning on the gap down because options premium indicated 2.3% drop and closed the position on the initial drop. Nice wedge back to the old resistance, where I should've bought puts again, lol. Then back down where it belonged.
Should've seen it coming, COST almost always finishes at the bottom when it drops on earnings, the notable exception being the last earnings which happened at the bottom when it was oversold.
Also note the huge pump volume EOD yesterday and the red bars today after open and near close. Lots of people jumped into this for earnings expecting a breakout. Serves them right, lol.
Could've just played this all day instead of screwing around with other stuff.
COST EarningsI think this is going to move big in one direction or the other. Guessing down, but i could be wrong.
Obvious double top.
Will rising oil prices hurt Costco?Costco has been inversely correlated with Oil prices for quite some time, but that has changed recently.
$COST could be wrong....But looking at a small risk put for a few weeks out after earnings...might be a sell the news, beat and lower forecast with things getting back to normal, less quarantine stockpiles etc...just a theory
