COST: Head and Shoulder Pattern!Classic head and shoulders pattern. Expecting ~20% drop, coinciding with broader economy and stock market "waterfall" downturn.
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CTO trade ideas
COST still bearish for FridayI expect a second large drop on open tomorrow. When we hit support earlier today it sent most stocks into a near parabolic climb.
Rising wedges are forming on a lot of stocks, I think this sets us up for a breakdown tomorrow morning.
Cost looking bearish stillI think we're gonna have some temporary relief here in this rising channel before falling out and either....
1. COST breaks the support and drives down to $446/$448 levels.
or
2. COST bounces at support and goes back up to retest a gap fill.
Market leaders has topped up Some market leaders' stocks showing monster reversal patterns, could this all just a beginning of tsunami
Dec Earnings could be last strawBig diamond top forming-
Either
1. We continue this bullish momentum until we hit top right of diamond (around 533-540 range) beginning of November
1a. From here we go down (495-500ish), bounce and go back up and break out of the diamond
1b. We go down (495-500) consolidate at the end of the diamond and fall at earnings
2. We go down to the bottom of the diamond one last time around $474 then continue on up to the top right diamond trendline (533-540)
2a. From here we go down (495-500ish), bounce and go back up and break out of the diamond
2b. We go down (495-500) consolidate at the end of the diamond and fall at earnings
3. less than stellar October earnings of the overall market drag us down and out of the diamond early causing a nice big crash, but Costco December earnings help put us on new bullish reversal momentum.
Symmetrical TriangleLarge Symmetrical Triangle that is neutral until broken.
Head and Shoulder that has broken the neckline and is now back above the neckline so it is a source of support once again.
No recommendation.
Everything changes except change.
Costco deep retracementCost has been retraced to the lower boundary of the previous ascending channel. would continue to monitor and wait for a price action rejection. we might get this very soon or wait till 2 weeks. price rules the market.
Caveat emptor. This isnt a recommendation. it is for educational purposes only.
Costco slashing prices! COSTAbout to go through pivot level in what otherwise looks like a finished impulse. Picking conservative, fractally evident levels.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Double H&S with neckline tilted downweekly head and shoulders with sloping neckline at the bottom, in these cases the entry is anticipated on the right shoulder, something confirmed by another newspaper and daily shoulders
COST, Bearish Quasimodo pattern is beautifully forming !COST is showing nicely a very popular price action Quasimodo pattern .
Quasimodo pattern is also called Over-Under pattern. It is simply formed by series of Highs and lows as shown on the chart.
Sell zone (568-571 USD) was shown on the chart for COST. In addition to strong static resistance of pattern we also have 0.786 Retracement level of the last major decline in this zone. Moreover, Pull back to broken up trend line might be completed at mentioned Sell zone.
It is also worth to note, All indicators will be extremely overbought if COST can reach to shown sell zone.
As Quasimodo pattern has been proved to be of high probability success , we certainly keep COST in our short watch list but do not jump into trade blindly. As always we need a reversal trigger at sell zone to open our position . Take profit targets are also shown on the chart by green lines.
The reference of the inserted picture was shown on the chart . You can find many other pics and examples simply by googling " Quasimodo pattern ".
Good luck everybody.
COSTNot a financial Advice!
Price Action to the downside.
Sell off coming in if this setup plays.
Risk what you can afford to lose.
$COST with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $COST after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 75%.
Head and ShouldersEarnings we this afternoon and it looks like they beat the numbers.
This pattern is neutral until the neckline (479) is broken with a downtrend.
The neckline is support until broken.
No recommendation
COST Costco Wholesale Corporation Options Ahead Of EarningsLooking at the COST Costco Wholesale Corporation options chain, i would buy the $475 strike price Puts with
2022-9-30 expiration date for about
$5.15 premium.
Looking forward to read your opinion about it.
$COST - target 470Looks like a fat head and shoulder setting up. Will wait for a bounce above 510 and short it to 470.
COST trade setup idea 8 september 2022530.5 is an important level for Costco. This level coincides with 34 EMA.
If the stock crosses this level, then we can go long with a target of 543.
If the stock is not able to cross this level, then I would go short with target of 510
$COST wait for the break of pennantCOST is primed for a move out of Pennant. Wait for break of Pennat to determine direction.
It’s lost the 9ema on weekly. A slight bearish bias
#RedDevilTrades #RDT
Alternate Bat/BearishStocks with a lot of gains can fall prey to profit taking when the selling gets goin.
Cost has been hanging in there for a long time.
Are stocks with the most gains destined to lose the most if a severe downturn were to happen?
I do not know, but I suppose stocks with the most gains have the most buyers inside them.
Buyers can become sellers, so it remains to be seen.
There are a few Rising Wedges under price that are not valid until the bottom trendline is broken.
COST's most recent leg hit the high in an almost identical candle pattern, as the high before the double top with the question mark on it.
No telling with this one.
Also a crooked W. If this leg, the 4th leg, is complete, price would have landed at the 1.113 of XA. Valley 2 is higher than valley 1.
No recommendation.
This may be a long and drawn out ride.
COSTCO STRONG SELLCostco appears to be forming a huge H&S on weekly. While I hadn't really paid much attention to Costco I did see it mentioned yesterday which caused me to take a look. Want to note that Costco has performed strong relative to the market and that's why I like it for a short. This recent rally over the past couple of months is leaving a lot of meat on the bone for a short IMO. As you can see the past couple years have been quite the run up. Unfortunately if we are going into a bear market even the best performing stocks are liable to pull back significantly. I think we are a long way from ATHs and I expect to Costco to at least hit the first three targets within the coming months. Taking some profits today on some other shorter swing shorts and hopeful Monday Costco opens green so I that I can begin scaling in a position. Thoughts? Disagree? Feedback welcomed and appreciated! NOT FINANCIAL ADVISE ALL MY OPINION
COSTCostco chart here shows a head and shoulders formation which is bearish..
Chart got originally striked so had to repost this lol -- 510 bearish target with a 390 buy in mind for the long term portfolio.
510
390
