0I47 trade ideas
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.
COST Heading to Double topExpecting at least a double top, look at the accumulation. Looks to me like the giant bull flag is now over.
COST - Don't do this close to earnings report unless...I don't recommend taking a trade days before earnings report unless you're sure what you're doing. In this case the buyers are stopping out the sellers at the 292.50 level, you can see the previous hammer candle and the more recent gap up. Does it mean anything though especially after the report comes out?
LONG - COST
SL: 290.58 (Suggested by our algorithmic system)
TP: 303.51 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Bullish OBV divergence detected
2. Accum/dist indicator still looks positive
CAUTION: Support trendline was broken
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
$CIST - long, 1-year parallel channel trend bounceNASDAQ:COST - long for a quick $5-8 pop, good risk/reward IMHO
Double inside weekly candlesBeen patiently waiting on this one, not sure which way it goes but just follow it, big move coming
$cost oversoldOversold territory for a stock like Costco.
Another falling wedge.
Bullish divergence on RSI.
Increasing Volume.
Might see a dip to 291 first, but this will see ATH soon
Weekly inside candle on 20smaIf this breaks over last weeks high, Im thinking it can make a new ATH. 305c for Jan 17 closed around 1.20, will try those. Puts under trendline.
COST Regression analysisPresence of a rising wedge, broadening ascending wedge, Costco has been on a massive bull run. Rounded top also present which may be indicative of a bearish move, but with the strong rising channel and regression trend of 0.92 (strong regression trend according to Pearson's R value) the chart appears definitely more bullish rather than bearish.
$COST ~ COSTCO~ SHORT SETUP USING PUT SPREAD~ #OptionsTradingMETHOD: Short COSTCO {price at entry ~ 292} via:
+2 VERTICAL COST 100 (Weeklys) 27 DEC 19 300/292.5 PUT @5.00 ;
Trading @ low IV after the earnings dump;
Decay helps if price < 294;
Sold high extrinsic put to buy high intrinsic put
STRATEGIES: Using COST day chart:
The 20/50 Mean looks set to make a big pink cloud after a long chart runup.
The Fisher Transform line signaling a continuation short.
The last earnings bailing of stock price turned out to last a few days.
TACTICS: The plan in terms of stock price:
STOP is price > 295 (MUST OBEY, Upside down R:R trade)
TGT1 288 to scale; TGT2 286.25 to exit (NO EARLY EXIT, Upside down R:R trade)
Consider scaling as pink cloud becomes large
We may let the Fisher Transform and 20/50 mean together take us out technically for whatever we get win or lose.
Will update in comments,
B3
d^.^b
Similar to year ago, -15% during 2 weeksCOST seems parabolic now. Hard to believe repeating history but there are some similarities with 2018 december earnings. With negative surprise COST can drop 15% during 2 weeks. But good news that 250§per share is good entry point!
