In December 2023, I purchased COSTCO to try PEAD (Post Earnings Announcement Drift). It's a swing trading strategy. Points in the algorithm I have followed:
2023.12.14: Q1 after the opening of the stock exchange (advance accounts).
2023.12.15: 658.82 – 630.78 = 28.04 => 4.45% > 4.15%
Buy Wednesday 2023.12.20 and hold until Monday 2024.04.22. Buying and selling...
NASDAQ:COST was over-speculated by retail groups. Extreme angles of ascent do not hold. The severity of the recent angle of ascent due to speculation warned well ahead of time that COST would have a meltdown when buyers evaporated. The first strong support level is at the black line.
The Weekly chart shows stronger runs up than down. Costco is frequently...
This is a followup to my previous $783 call (click).
We expected $783 for bull target.
We suspected $783 as maybe a top.
We've butted up against it just now.
Lets see if we get some clues here.
===============================
NASDAQ:COST with Martin Pings KST "know sure thing" indicator, which uses a composite of 4 smoothed rates of change to identify changes in trend. Shown here with a Chaikin oscillator (accumulation/distribution). If we were to enter and exit the day after a cross over the worst case outcome over the past 3 years was 1.5% return in August 2023.
Costco Wholesale Corporation's stock (NASDAQ:COST) exhibits a technical posture that warrants a nuanced discussion. Currently trading at $726.80, COST's market temperament is deciphered through various technical indicators and chart patterns across multiple time frames, yielding insights into its future price trajectory.
Technical Indicators:
Ichimoku Cloud...
Costco has been flying thru ATH levels with gusto.
Now approaching a confluence of fibs around $730.
Higher up is a cluster of 3 "Golden" fibs around $780.
Plotted above are three different fib sets (waves).
Thick lines are the Genesis Fibs (click for full chart).
Each fib alone could turn price, confluences more...
Costco stock shares are nearing a zone of buying interest between 660 and 680, presenting an opportunity for bullish traders. On the upside, the region between 740 and 800 is likely to attract bearish sentiment during the second quarter of 2024
Nice parallel channel long trade has presented itself. Last time Costco had earnings the stock dropped 7%, then soon after rallied to ATH. The current earnings resulted in another 7% drop, and it is reacting with a solid ascending parallel channel.
I think a long is suitable here.
I am quite bullish on Costco wholesale, they have show amazing growth this year to date and continue to demonstrate strength in the retail world. I am bullish regardless of the reading in the long term. I beleive we have to case scenarios for NASDAQ:COST
Option 1: Good Reading, will casue this stock to continue to pump up about 1-1.5%. This could create enough...
Long above weekly Cloud trim at resistance. Get involved again on a daily close over resistance
- Call debits to allow it to wiggle or 2 weeks Delta 35-50
Costco stock fell 7%+ today, breaking the overall trendline on the D and 4H graphs. I predict that it will have a green day on Monday because the market will retest/correct itself, and after touching the R1 price on pivots (Fibonacci), we can short COST. With a risk-reward ratio of 1:3, less risky traders can exit at a given price in the image, and if you can hold...
Costco ( NASDAQ:COST ) missed Wall Street’s revenue expectations for its holiday quarter, despite reporting YOY sales growth and strong e-commerce gains.
NASDAQ:COST Shares fell about 4% in aftermarket trading on Thursday but the stock bounced and surged by about 1.6% in Premarket trading on Friday. The company’s stock had hit a 52-week high earlier in the...
Costco Completed a Harmonic Pattern
It is one of those stocks that since COVID-19 the price increased by nearly +130% and it keeps rising.
So far the price stopped at the pattern completion zone and probably it can wait in this zone for the Earnings report which will be released on 07-March-2024
I am not expecting the price to move down like a rocket
but from...
Costco About To Complete a Harmonic Pattern
Costco looks unstoppable since a long period of time.
It is one of those stocks that since Covid-19 the price increased by nearly +130% and it keeps rising.
At this moment I spotted this Bear Harmonic Pattern.
I am not expecting the price to move down like a rocket
but from this zone near 715 - 737 we can see any...
Price broke above from the bullish pattern supported by the Ichimoku cloud. I'm expecting the upside momentum to continue. First target around 700 USD.
