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COST trade ideas

Head and ShouldersHead and shoulders patterns have a tough time meeting downward targets in a Bull market..they do best in bear markets..but... I do not like negative charts..especially when I know lots love and are in this stock. It is a strong stock and I am sure it will recover when the time is right..I could have put the neckline at 359.50 but was cutting COST some slack and this is a bull market..for now COST is also in a channel down and a falling wedge which can be bullish if price breaks upper trendline which is around 358ish. Just be safe.. Not a recommendation
NASDAQ:COST
by lauralea
Head and ShouldersIn this market, this may or may not break the blue neckline. The neckline is strong support as long as price is over it..This pattern is a H&S top, opposite of an inverse head and shoulder that is bullish. Both have a neckline but on the inverse H&S, the neckline is resistance.. If it does be safe.. Strong stock and so far the support there is holding. The pattern is not valid unless neckline is broken. (blue line) The handle low from a previous cup and handle pattern appears to be holding as support.. Not a recommendation Emotions are not tangible, I can not touch an emotion. Yet emotions build patterns and influence supply and demand in a big way. Right now, the market would have me believe the uptrend will never end. I look around me and turn on the news when I can stomach it, and it looks like the economy is breaking apart and sinking like the Titanic. The market is never wrong though, so it has to be me..just be safe out there
NASDAQ:COST
by lauralea
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