How to Trade Three Inside Down PatternsHow to trade three inside down patterns with entries and stop levels.
COST trade ideas
COSTCO - BULLISH SCENARIO
Costco Wholesale Corporation (COST) is expected to report strong third-quarter fiscal 2023 results on May 25 after the closing bell.
Several key factors contribute to Costco's positive performance, including its effective growth strategies, efficient price management, steady membership trends, and expanding e-commerce business. By offering products at discounted prices, Costco has successfully attracted customers seeking both value and convenience.
These factors have played a crucial role in the company's consistent sales growth, as evidenced by an estimated 2.4% increase in net sales and a 6.5% rise in total membership fees for the quarter under review. Costco's total paid members continue to grow, driven by its expanding customer base and high renewal rates, which further bolster sales.
The first price target is located at $ 505
Symmetrical TrianglePrice continues to bounce back and forth between trendlines of the triangle.
Slightly below the .236 and above the .382.
No recommendation
COST: bouncing on its 200-dayA price action above 500 supports a bullish trend direction.
Further bullish confirmation for a break above 512.00.
The target price is set at 523.00.
The stop-loss price is set at 493.00.
The price action remains above its 200-day simple moving average. Supporting a bullish trend direction.
Start of upside price momentum also applicable.
COST WCA - Awaiting a Breakout from SymmetryCompany: Costco Wholesale Corporation
Ticker: COST
Exchange: NASDAQ
Sector: Consumer Defensive
Introduction:
Greetings and thank you for taking the time to read my analysis. Today, we delve into the weekly chart of Costco Wholesale Corporation (COST) which has been forming a symmetrical triangle pattern for the past 12.88 months. This pattern is typically a sign of market indecision, and we're anticipating a breakout soon.
Symmetrical Triangle Pattern:
A symmetrical triangle is a chart pattern in technical analysis used by traders to predict future price movements. It is formed when the price of an asset consolidates between converging trendlines that slope towards each other, creating a triangular shape. The pattern is characterized by lower highs and higher lows, indicating a tightening price range as the market reaches a point of equilibrium between buying and selling pressure. In this case, we have 5 clear touch points on the upper trendline and 3 on the lower trendline.
Analysis:
Costco's price is currently above the 200 EMA, and given the clear uptrend preceding the triangle, we are inclined to see this symmetrical triangle as a bullish continuation pattern. However, the inherent indecision signaled by the symmetrical triangle means we should hold off on calculating a price target until a definite breakout occurs.
Moreover, a breakout must occur soon, as the closer we get to the triangle's apex, the weaker the effect of the breakout. This makes COST a high-priority watchlist candidate that should produce a result soon, regardless of the direction it takes.
Conclusion:
The Costco Wholesale Corporation weekly chart analysis points towards a symmetrical triangle pattern, indicating market indecision and a potential breakout soon. Traders should closely monitor this chart for signs of a breakout.
Remember, this analysis is not financial advice. Always conduct your own research when investing and consider risk management and proper position sizing when trading based on chart patterns.
If you found this analysis helpful, please like, share, and follow for more updates. Happy trading!
Best Regards,
Karim Subhieh
COSTCO neutral patternOn the chart we can see a triangle.
The triangle can breakout in either direction, so we can enter when the breakout occurs.
Target for long and target for short are shown on the chart.
$COST 1 Year Wedging PatternNASDAQ:COST Just had an earnings miss... not a bad reaction so far. This has been wedging for about a year now. Also known as a Volatility Contraction Pattern (VCP). I would guess it has to break either way soon. Ideas, not investing / trading advice.
COST coiled enough!!Costco Coiled enough tightly for breakout .Earnings on may 25th. Would love to take some option contracts ending the week following .Defintely worth watching the Breakout of symmetrical triangle.!!! Good luck.
$COST Weekly chart looks ripeHas been holding up long term support well and it just needs to break the trendline to go higher. It might take next earnings to propel it upwards.
$COST Blow off top - Long CallCostco consolidating here... getting ready for a big move... Majority are going to expect a down turn here... but we could easily Moon
COST: Buy ideaOn COST we have the breakout of vwap indicator so we will have a big probability to have an uptrend.Thanks!
COST Symmetrical triangle On the chart we can see symmetrical triangle formation which is neutral pattern.
In order to trade it you have to wait for the breakout with the volume increase.
Target both for short and long are shown on the chart.
$COST trade is coming upNASDAQ:COST is breaking below the rising wedge 502 which is opening a nice short trade with a good risk to reward or buying put options. Target is 470-480 zone
Symmetrical TriangleThis could also be called a large Descending Triangle.
Top line is a descending or a diagonal resistance line indicating lower highs with each swing up. This line must be broken to reach higher targets. T1 is in larger green type than T2.
Both patterns are neutral until broken.
Price is trying to bust through the .236 today of the trend up.
No recommendation.
04/20/23 Visual View of COSTCOBull Case:
- Has always commanded a premium
- Strong revenue growth
- Solid Return on Equity
- Dividend Safety
Bear Case:
- Way over valued with P/E = 36
- Will be tough to maintain dominance if we fall further into recession
Costco Faces a Potential Make-or-Break MomentCostco has been a steady performer for years, but now the warehouse retailer may be showing signs of exhaustion.
The first pattern on today’s chart is the falling trendline that began last April and the rising trendline from last May. The convergence of the two has produced a triangle, with prices currently nearing the end of the formation. Does this show buyers steadily losing interest?
Second, the 50-day simple moving average (SMA) slipped below the 200-day SMA in October and has remained there since. It’s different from the rest of the market, suggesting that the longer-term trend may have weakened.
Third, notice how prices tried to move above the 200-day SMA and failed after COST reported lower same-store sales on April 6. The shares have also struggled at the 50-day SMA.
Finally, relative strength versus the S&P 500 has been mostly negative since the broader market started climbing in October. This may indicate COST -- with its relatively high valuation -- is losing favor as investors shift to new stocks.
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stdev retracements for U.S equitiesIm currently looking at NASDAQ:TEAM , NYSE:MCD , NASDAQ:PAYX and NASDAQ:TSLA for mean reversion opportunities. Awaiting monthly adj,close data for the month of April.
COST | Bearish ABCD PatternWe have observed Bearish ABCD Pattern. We will take entry of sell stop if the trend reverses from point D which is also a Potential reversal Zone (PRZ) after the confirmation of bearish divergence on RSI and new trend formation with LHs and LLs.
Buying Costco at a discount. COSTTriangle/Three drives within an upgoing zigzag. We more often now base stop loss off a moving ATR, as testing had shown this to be a more effective strategy than mere price levels alone. Yet, ATR is not always an option.
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 green 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.
cost SHORTCOST SHORT
it will rise up till the trendline - then it is going to go down as per the levels shown .
COST| Bullish Trend Continuation | Bullish RectangleACHUSDT is showing Bullish Trend Continuation forming Bullish Rectangle along with the price synced with the RSI . We will place buy stop order along with SL and TPs .
