Levels for costcoNeeds to break yellow lines to push higher. Needs to break first blue line to push lower.
COST trade ideas
$Cost Going DownClear bearish divergence at this top
Previously rejected at 240 area and will do so again
First stop 220 which is the .382 retracement and first strong support level
COST: Welcome to CostCo Earnings, I love you!This one was truly a no-brainer for me the other day, but I was waiting to publish on the earnings news. COST is up 5% is afterhours with a potential blowout day tomorrow on market open. I also believe that the financial media will latch onto this good news from them with a fervor in hopes of pushing back a little on this current bear market sell off index wide. I do believe that COST has a possible long run up, but I'll be setting my stops tight until I see upward action for longer than a week. I bought into this a few days ago anticipating that the post-earnings action would be an upward reversion towards a long term mean because even though COST did rise slightly in January, they didn't experience a stellar blowout like some others and I felt that they were due with their holiday shopping earnings report the same as TGT and KSS. I do have profits from TGT and stayed out of KSS because of higher volatility, and it appears the cautious value investor in me made the right decision in this choppy market.
MACD has been floating mildly flatly with only a minor dip today that bounced back of the signal line in after hours activity. The bullish breakout in January wasn't strong enough to pull up the ADX trend strength index above a 20 yet, and I suspected that the +DI would bounce off the -DI as a support in the couple of days leading up into earnings to have a sharp breakout above the 50 and 200 day moving averages as resistance is being tested and the bulls will win have won out on earnings in pre-market. RSI appears to be testing a resistance near 50 as well, but momentum is beginning to look positive and may remain so if the breakout settles into a strong trend channel upward. Money flow is positive, and it looks like the few bears that bet on a bad earnings call are going to get squeezed out fairly quickly for some easy bull trap bait. Volume began to rise right before the call, and will break out hard tomorrow on market open, too.
Welcome to CostCo, I love you!
Looks like a good entry point.Costco is tempting at these prices since it often trades in the 140.00 plus range. Indicators are showing us a good entry, let's see what it can do.
COSTCO, lolDidn't see this yesterday afternoon. Look at the end of day action on the 15 minute chart, obvious short, looks like we missed out.
It's played out already, but man I wish one of my followers or guys I follow posted this one.
COST Costco Wholesale Is Setting Up For A Large ShortCOST recently broke below a major support ($217) as well as below the 200EMA.
I will be looking for short opportunities at the retest of the $217 structure level.
Cost possible scenariosthink we continue down 2moro but just my opinion. Cashed my put at 100% on drop today.
Expect Costco to open on a good noteThe Megalodon Indicators are signifying a strong buy come market open for Costco! This indicator is incredibly accurate! If you'd like to know how to try it out for yourself, just send me a message!
COST appears bear flag at resistanceCOST appears bear flag at resistance. wait for the break of bear flag.
COSTCO... another Amazon's victim? Last reporting data was ok, net sales for the quarter increased 10.8 percent, to $32.28 billion from $29.13 billion last year. Net sales for the first 24 weeks of fiscal 2018 increased 12.0 percent, to $63.40 billion from $56.60 billion last year.
The Company gained an incremental sales day in the quarter due to the shift of Thanksgiving, however pre-Thanksgiving and Black Friday holiday weekend sales fell in the first quarter this year, versus the second quarter last year. This negatively impacted this year’s second quarter sales by approximately 1.4% in the U.S., and slightly less worldwide and negatively impacted E-commerce sales by approximately 7-8%.
However, my expectation for COST is around $220.00, even after rose $170 per share at the end of 2018.
Have a Good Trading Week,
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COST Inverted H&SNot real bullish on Costco, but charts don't lie. Inverted H&S like the rest of retail (see XRT).
Long on calls for a day.
COST long on the 15 minute scale reverse H&S shoulder. expect the stock to close the gap on the left side of the chart. that being said, do not stay to long.
Costco 12 RRR shortTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
$COST Costco at Key Support Level$COST Costco tagging key $200 support level today looking very oversold. Expecting a price recovery into the 1st quarter of 2019. Note there is an un-filled gap below $200 from June of this year - could see us dipping as low as $198 this week. A close this week below $198 would be bearish - ideally we stay above $200.
Targeting mid-December overhead gap-fill of ~$226.50 by mid to late February leading up to March earnings release.
Note: Informational analysis, not investment advice.
COST OverpricedSurprised that COST hasn't fallen farther AH, revenue growth is nice but gross income actually went down Y/Y. Net income increase is strictly from the tax cut and one time events.
31x P/E
1% dividend
When the recession hits, this will get cut in half easily. P/E ratio is way too high, dividend yield too low.
No active position yet, let's see where it opens tomorrow. Holding XRT puts though, expect a retail reaction to Costco earnings, we'll find out tomorrow morning.
Short COST (Ready to get "Targeted"?)Weekly indicator trendline support broke, divergence, will drop on ER big move.
TP at least 183
COST: Sell Short Potential but Strong Support at 200The Daily Chart of COSTCO Stock shows that there is some sell short potential on the short-term trend IF the stock breaks to the downside below the low of around 216. At this time, it appears that is more likely given the lack of large lot buyers in the chart patterns. Support levels show the point gain potential moving down from the current range-bound pattern.
However, COST is less likely to collapse all the way down to 50% from its all-time high. Why? Because it was never speculated to extreme highs, far from a strong support level. The furthest it can go before reaching strong support is around 200 for a bounce and 190 for serious support and risk of rebound price action.
