COST: From a “Bear”... this is going 350+The monthly makes this look as clear as day... unless bulls really drop the ball on this one, this should really soar! This is one of my favorite companies, and I would not expect this to drop... let’s see!
COST trade ideas
COST break out to new highsBroke out to new highs on 75% above usual volume. Didn't like the partial retreat at the end of the day thought, would have like it to close to the top of the day range, but volume is strong.
Long @ 327.02
$COST All Time High for Costco
Costco's breakout move today was stalled by weakness within the overall market, but it did mange to
close at a new All Time High.
If the $325 level can hold as support tomorrow, there nay be a opportunity for a long trade to $330- $333 - $340
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$COST Costco - Breaking Out of Consolidation$COST Breaking out of consolidation today to fresh all time high.
Assuming a close today >$325 expecting to see a strong follow-through move in the near term.
Near term target: $350.00
Note: Not investment advice.
COST - Do You Like Low Risk/HIGH Growth? COST Gives Us a 1:4 RR!I've said it before and I'll say it again: don't bet against these guys. Given the blow out quarter by $WMT I expect $COST to do the same. I have increased the position in my portfolio and recommended this stock LONG ago to my followers.
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$COST: Completing Wave 4 Correction, into larger degree Wave 3Disclaimer: I have been trading in the markets for about a year. After several months of charting various instruments, my eyes have gotten trained to recognize different candle formation patterns like Bear & Bull Flags, Head & Shoulders, and others. This was good. But, not enough for me to accurately forecast the next following moves and market structure after these patterns had been completed.
For me my next evolution as a Trader came with a more fine-tuned approach to Market Structure, The Elliott Wave Theory. There are two books that were recommended to me as I started this journey.
1. Elliott Wave Principle: Key to Market Behavior by Robert Prechter and A. J. Frost, www.elliottwave.com
2. Visual Guide to Elliott Wave Trading by Wayne Gorman and Jeffrey Kennedy, www.elliottwave.com
I am still learning. I accept the fact that my analysis may be wrong. But, these are my charts as I continue my journey. I am open to all feedback on my analysis as I continue to improve.
COST has signaled twice. First target is $303According to our signals, the target prices are $303 and $307. I hopped in today and grabbed a couple options. We've got a potential morningstar forming. Let's see
Triple Bottom or Inverted H&S?I have placed 3 green arrows representing the triple bottom, which is also the head of an inverted H&S.
The RSI looks healthy, I see no reason why Costco won't perform bullishly going forward.
A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears).
A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance.
The formation of triple bottom is seen as an opportunity to enter a bullish position.
The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may capitulate when the price breaks through resistance levels.
An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends
An inverse head and shoulders pattern, upon completion, signals a bull market
Investors typically enter into a long position when the price rises above the resistance of the neckline. The dark Blue line on the chart represents the neckline.
Keeping an eye on $COSTLooking at the weekly chart, COSTCO is at an inflection point.
I am looking to enter a position in few days depending on how it moves.
If it will bounce off the uptrend support, $COST might test again resistance level around 220$.
If it is not able to stay above the uptrend support, we might see it going back to the channel main support at around 280-285$.
NASDAQ:COST
Costco (COST) Buy trade, stop below DAILY 200 MAThis is a very nice risk/reward trade as the price could potentially hit the target and then also break out the ascending triangle for even greater profits.
The stop just below the 200 day MA and the loss of the trend-line is a clear stop and a tight stop
