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Costco Wholesale Corporation (Extended hours)Costco Wholesale Corporation (Extended hours)Costco Wholesale Corporation (Extended hours)

Costco Wholesale Corporation (Extended hours)

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COST trade ideas

Bull FlagPrice hit resistance and formed a Dark Cloud Cover candle pattern after breaking the top trendline of the flag. Today's red candle has pierced to the 50% level of the prior green candle which indicates price opened higher today than the close of the green candle, but so far, the bulls are having issues hanging on. There looks to have been a Bullish Crab pattern that took this down to the 1.618 of the impulse wave up. This is a price exhaustion pattern and a move to the upside is usually prompt when the crab hits the 1.618. The longer term moving averages do not looks good but the shorter term averages in the alligator are trying to point up and cross over. Price is over the 20 but underneath the 50, 100 and 200 simple, daily moving averages. Tough market and may be a choppy one for some time to come. The resistance overhead is causing many bullish patterns to fail. In order for COST to reach targets posted, a break of the resistance will need to occur. The gap down has been filled and may serve as support. No recommendation.
NASDAQ:COST
by lauralea
2
Roughly $478 the floor for Costco?I've kept an eye on stocks such as Costco ($COST) ever since the pandemic. Now, with the U.S. economy sputtering and likely already in a recession (based on the definition) I believe low-price, big-box retailers could be a strong bet. Looking at the trendlines (this is my first time publishing, so be gentle), it looks to me like Costco should hold at or around $478. I sold off my shares before the dip really began. But, I'm thinking about buying back in and staying long through the recession. Any thoughts?
NASDAQ:COSTLong
by JonathanMillsPatrick
Alternative Bat/WThe bearish Alternative Bat should land close to the 1.113 fib level. The last leg of a BAT should land around the .886. The Bearish version looks like a crooked W and the Bullish version looks like a crooked M. In the bearish version, valley 2 is higher than valley 1. The W was preceded by what appears to be a Bullish Cypher which should terminate close to the .786. Peak 2 is higher than peak 1 in both the Bullish Cypher and the Bullish Shark. Steep rise on weekly so lots of buyers in this one. Percentages listed are possible pull back targets and are percentages of the entire trend up from a low of 307. High is 612.27. 3 year low is 223.05. Long term DMAs still in sync with an uptrend. The Alligator which is comprised on shorter term moving averages is just now trying to point down. Many are very bullish on COST and short percent is very low and is less than 1%. No recommendation. I am watching this one for a much deeper pull back.
NASDAQ:COST
by lauralea