CTO trade ideas
Swing PUTS - this stock is still near topOn the weekly chart, this line graph removes the noise of candles and you can see how the current price over 300 is still near the highs. Two different green support lines converge. This may take time, so look for put entry signals on hourly and daily chart.
Also the long red candle a few weeks back dropped %K from over 80 to under 20, which often forewarns of more downside to come.
COST Round upCOST has all the support of its moving averages, (13ema, 30ema, 50sma), that will help push it up to the top of the range to 325. This is forming a rounding pattern as well. Which will also turn into a double bottom once it reaches resistance with a potential breakout. This trade i'll exit at 325 and wait for confirmation of a breakout, at that point i'll reenter. COST is also a relative strength stock compared to the rest of market and has been unaffected by corona virus.
COST Doomsday prep?It has been a wild week so far on the market, with price swings up and down. Cryptocurrency seems to have a correlation with the US market, following the market. This is due to cryptocurrencies youth. In this post I want to see the share price of Costco will increase as demand increases with the current corona virus outbreak. The chart doesn't look great in the short-medium term with a double top and a strong horizontal resistance formed, however long term this would be a great entry point.
Remains bullish in and above box.COST showing relative strength.. Must be the sale of all that toilet paper.
Like it if it holds inside the box and above.
levels that COST must holdCostco must hold these levels. Else further correction into the weekly 50ma is likely.
Buy now costMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
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$COST looks set for a breakout$COST showed strength last Friday when market was selling off and it looks primed to break all-time high resistance of 314.28. The stock has been accumulating heavily since last earnings and has broken out of the consolidation range of 290-300 recently. Investors are looking to add to value names due to current market sentiment and stocks like COST, WMT, etc. fit the criteria especially since they are household names and have been lagging spy. I'm looking for COST to break resistance this week and possibly run to 325+ leading to ER.
COST long opportunityCOST being accumulated over past 6 months. What may have looked like a failed breakout turned out to be a buying opportunity. Bullish setup here.
COST Looks Ready For a 5%-10% RunCOST seems to be about to break past resistance at 307.50 and make a run to $320-$330. Jan 1st $310 calls are only about $1. I think they will get up to $5-$10 by expiration.
