Costco Wholesale Corporation (symbol ‘COST’) share price rose by 6% in the quarter ended on 31/08/2023 in a rather steady bullish momentum. The company’s earnings report for the fiscal quarter ending August 2023 is expected to be released on Tuesday 26th of September, after market close. The consensus EPS is $4.71, up from $4.20 in the same quarter last year.
‘The company’s financial condition is rather balanced without any exciting indications with a low debt to equity ratio of around 28% and a current ratio of just above 100% ( 108% to be precise) as of 31/05/2023. On the other hand the company is not very popular in terms of paying out dividends with a dividend yield ratio of less than 0.8% making it not very appealing to large investors.’ said Antreas Themistokleous, trading specialist at Exness.
Technical analysis shows the price has resumed its bullish momentum after some losses incurred in mid August and is currently on the move to fully cover these losses. The upper band of the Bollinger bands proved to be a strong resistance level and caused the price to correct to the downside in the recent sessions. The 50 day moving average is trading well above the 200 day moving average while the price continues to trade above the daily bullish trendline pointing to the North for the near short term outlook.
On the other hand the Stochastic is recording extreme overbought levels indicating that a bearish move might be visible in the coming sessions but there are no other signals of a correction so that scenario might not play out at least for now.
‘The company’s financial condition is rather balanced without any exciting indications with a low debt to equity ratio of around 28% and a current ratio of just above 100% ( 108% to be precise) as of 31/05/2023. On the other hand the company is not very popular in terms of paying out dividends with a dividend yield ratio of less than 0.8% making it not very appealing to large investors.’ said Antreas Themistokleous, trading specialist at Exness.
Technical analysis shows the price has resumed its bullish momentum after some losses incurred in mid August and is currently on the move to fully cover these losses. The upper band of the Bollinger bands proved to be a strong resistance level and caused the price to correct to the downside in the recent sessions. The 50 day moving average is trading well above the 200 day moving average while the price continues to trade above the daily bullish trendline pointing to the North for the near short term outlook.
On the other hand the Stochastic is recording extreme overbought levels indicating that a bearish move might be visible in the coming sessions but there are no other signals of a correction so that scenario might not play out at least for now.