COST: Buy ideaBuy idea on COST as you see on the chart after the breakout with force the resistance line and the vwap indicator by a big green candle with a large green volume. Thanks.
CTO trade ideas
COST pre-earnings updateNASDAQ:COST August sales show a YoY 5% increase. They don't report until the 26th, but this suggests that we'll see a decent quarter. Current analyst 12mo consensus is ~$570.
The breakout from its symmetrical triangle didn't reach the full extension that I had originally drawn. Taking a measured move into the pattern from an area of prior resistance, we can see the where the pattern will tighten within the triangle, and the proportional extension when it exits. The breakout of from this pattern puts COST back into its long term rising channel.
I anchored variable weighted average price from the May dividend, and then two more from two recent pivot points. Right now we can see that price finds support at the VWAP from dividend and is running into resistance at the VWAPs from recent pivots. This suggests that ~530 will remain key support. A close below 530 could retest 509-520. A close below 510 would be cause for concern.
I added a lot below $510, took profits between $550-560, and began reaccumulating at ~$530. Right now I'll plan to keep accumulating between ~530-535, and any opportunities between 510-520. I'll re-evaluate if we see a close below the rising channel.
Double TopIt looks like a double top occurred after COST met the 100% mark for the triangle.
There is also a RSI Divergence at the Double top. Price does not match RSI. There are other indicators folks use to spot Divergences.
Earnings late September.
Dark Cloud Cover candle pattern which is bearish so far today.
Dark Cloud Cover is a candlestick pattern that shows a shift in momentum to the downside following a price rise. The pattern is composed of a bearish candle that higher than the previous session but then closes below the midpoint of the prior bullish candle.
Dark Cloud Cover can morph in to an bearish engulfing candle if much more selling occurs today.
No recommendation
Short, target 529Following daily chart.
Got a short signal
TP - EMA100 or 529
SL - 567.81 - Please wait daily close to stop.
Symmetrical TrianglePrice has reached almost the exact mark of a 100% move from the Triangle.
The measure of the wide end of the triangle is projected from the point of the break to guesstimate targets. This one has reached the 100% mark (dashed line) but it is possible for a triangle to reach a lower or a higher level that 100%
Ugly red candles on daily, weekly and monthly today but this can change.
I just though this was cool when I measure it. LOL
No recommendation
COST the retailing warehouse chain LONGCOST had lackluster earnings two months ago and is due for another report in
late September, Despite the earnings miss, COST immediately uptrended as if
traders and investors were expecting far worse. Since June 1st, COST has been
in an ascending parallel channel bounded by the dynamic support and resistance
of the first and second VWAP standard deviation lines above the mean as anchored
to a date before the earnings. The MACD is currently showing bearish divergence
while COST is at the upper resistance in the channel. As a result I will place
a short trade on COST here with a stop loss above that red dynamic resistance
line. Upon managing the trade, I will close and reopen the trade long when price
meets the lower support blue VWAP line and is likely to reverse.
$COST BreakoutCostco is breaking out on a longer-term time frame and I suspect a catalyst news event will allow it to climb higher. I suspect this will be either a membership price increase, a stock split, or some acquisition which will improve revenue guidance and/or improve profit margins.
SYMMETRICAL TRIANGLEPrice went off to the races after breaking top line of the triangle.
ATH 612.27.
Target 1 almost completely met.
Overbought with RSI on 70. Mine is set on 80.
No recommendation.
COST: some further upside potential?A price action above 525 supports a bullish trend direction.
Further bullish confirmation for a break above 540.
The upside price target is set at 440.00.
The stop-loss price is set at 522.00.
Strong momentum supports the upside price action.
$COST - Weekly (Triangle Breakout)NASDAQ:COST has a great business model, offering excellent prices for its members and paying their employees very well (good business karma)! This is especially appealing in a recession. We see that NASDAQ:COST broke out of its triangle at the end of May. R at 540 and S at 500.
Betting that $COST reaches at least $550 before August According TipRanks, the average price target is $542.45 with a high forecast of $610.00 and a low forecast of $475.00. The average price target represents a 5.83% change from the last price of $512.59.
$COST Breaking Out?I posted this chart on May 3, 2023, and said that it could go either way. Looks now like the market is taking it up and out of this wedge. Earnings are past so it is safe to make a move without too much volatility, IMO. I will look to go long on this into today’s close if it holds near its daily high (40 minutes to go). I will have my stop just below today’s low.
I have a link at the bottom to the last post on 5/3.
Ideas, not investing / trading advice. Thanks for looking. Constructive comments welcome.
It's just startingPrice is poking the upper vertex of the triangle. I think is going to break out soon. I have a long position, If it pulls back I'd buy more.
COST - Rising Trend Channel [MID TERM]🔹COST is in a rising trend channel in the medium long term.
🔹COST has broken a resistance level in the short term and given a positive signal for the short-term trading range.
🔹COST has support at 486 and resistance at 523.
🔹Overall assessed as technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
COSTCO TO 500After EARNINGS, we could see a moving up!
Weekly Fibo lvls are oversold and the indicator Konkorde shows a change in trend
What do u think about it?
Maybe it could go above 500, but I prefer to take profit at that lvls!
COST Costco Wholesale Corporation Options Ahead Of EarningsIf you haven`t sold COST Costco Wholesale Corporation here:
Then Analyzing the options chain of COST Costco prior to the earnings report this week,
I would consider purchasing the 495usd strike price Calls with
an expiration date of 2023-5-26,
for a premium of approximately $9.00
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
costco rallying to resistance if it breaks massive move coming seems like costco is going to pick a direction soon, if it breaks resistance of the diagonal line a big move coming imo
Costco Wholesale Corporation I 4H TimeframeThis chart only for educational purposes
Here I tired to combine Elliott wave analysis with harmonic and SMC.
My main goal is to look for a strategy I could use in the future using these technical analysis.
It could be wrong specially the harmonic pattern is not confirmed yet and also there is a bullish count based on Elliott, even though we could see some big reactions on the marked areas.
Regards,
COST"It's been a looooong, a long time comin, but I knooooww, a change gon come" comes to mind when looking at this chart. Price has been consolidating in this triangle for a year and recent price action post-earnings feels bullish. Looking for a breakout soon.
$COST: Strategy, Patterns, and ProjectionsNASDAQ:COST is a core position for me. It's a fundamentally strong company:
• The company has a favorable track record of earnings beats, including yesterday's call.
• It has a 15% five-year average return on capital.
• There has been a consistent five-year trend of growth in both revenue and earnings.
• The earnings have been consistently favorable.
• Over the past five years, they have been reducing their debt.
• Their free cash flow is good, but the ratio of FCF to enterprise value is a little lower than I would like. Additionally, the FCF has been somewhat inconsistent over the past five years.
• The five-year average dividend growth is 12%, with 18 consecutive years of dividend increases.
Over the past year, I have been accumulating within this pattern. Although I am not typically a pattern trader, this is a company that I follow closely and the pattern is fairly clear. Triangles are strong trading patterns that reach targets 67% of the time. However, they typically work best with small caps and in rising markets. The price can break in either direction. Projections are placed at the breakout area and are based on the vertical distance between the initial reversal points in the triangle. If the price breaks lower, it could fill the gap in volume between $390-450. $390 is a firm area of support. If it breaks high, a retest of the prior all-time high at $610 is a reasonable target, with the next likely overhead resistance at $650.
I'm unclear whether the movement in late April was a breakout followed by a throwback to the cradle, or whether the symmetry of the movement is still within the pattern. I plan to make an entry now and another entry upon confirmation of a breakout higher. If the move fails and breaks lower, my stop will be at $440 with re-accumulation closer to $400.
COST Earnings COSTCO earning tonight, just noticed it's in a HUGE pennant. Could potentially be a big movement, though the formation isn't complete so maybe it just hits the upper line?
One thing I like about COST is that they have employees checking he entrance and exit, no shrinkage (theft) problems for them.
No position, but I'd be inclined to go long not short. Good luck to the longs. Only issue with the stock is that PE is 35, which is high for a retailer. Growth is gonna slow down which might cause it to break downward out of the pennant eventually, but I don't think it happens tomorrow
