NASDAQ:COST August sales show a YoY 5% increase. They don't report until the 26th, but this suggests that we'll see a decent quarter. Current analyst 12mo consensus is ~$570.
The breakout from its symmetrical triangle didn't reach the full extension that I had originally drawn. Taking a measured move into the pattern from an area of prior resistance, we can...
It looks like a double top occurred after COST met the 100% mark for the triangle.
There is also a RSI Divergence at the Double top. Price does not match RSI. There are other indicators folks use to spot Divergences.
Earnings late September.
Dark Cloud Cover candle pattern which is bearish so far today.
Dark Cloud Cover is a candlestick pattern that shows a...
Price has reached almost the exact mark of a 100% move from the Triangle.
The measure of the wide end of the triangle is projected from the point of the break to guesstimate targets. This one has reached the 100% mark (dashed line) but it is possible for a triangle to reach a lower or a higher level that 100%
Ugly red candles on daily, weekly and monthly today...
COST had lackluster earnings two months ago and is due for another report in
late September, Despite the earnings miss, COST immediately uptrended as if
traders and investors were expecting far worse. Since June 1st, COST has been
in an ascending parallel channel bounded by the dynamic support and resistance
of the first and second VWAP standard deviation...
Costco is breaking out on a longer-term time frame and I suspect a catalyst news event will allow it to climb higher. I suspect this will be either a membership price increase, a stock split, or some acquisition which will improve revenue guidance and/or improve profit margins.
Price went off to the races after breaking top line of the triangle.
ATH 612.27.
Target 1 almost completely met.
Overbought with RSI on 70. Mine is set on 80.
No recommendation.
A price action above 525 supports a bullish trend direction.
Further bullish confirmation for a break above 540.
The upside price target is set at 440.00.
The stop-loss price is set at 522.00.
Strong momentum supports the upside price action.
NASDAQ:COST has a great business model, offering excellent prices for its members and paying their employees very well (good business karma)! This is especially appealing in a recession. We see that NASDAQ:COST broke out of its triangle at the end of May. R at 540 and S at 500.
According TipRanks, the average price target is $542.45 with a high forecast of $610.00 and a low forecast of $475.00. The average price target represents a 5.83% change from the last price of $512.59.
I posted this chart on May 3, 2023, and said that it could go either way. Looks now like the market is taking it up and out of this wedge. Earnings are past so it is safe to make a move without too much volatility, IMO. I will look to go long on this into today’s close if it holds near its daily high (40 minutes to go). I will have my stop just below today’s low. ...
🔹COST is in a rising trend channel in the medium long term.
🔹COST has broken a resistance level in the short term and given a positive signal for the short-term trading range.
🔹COST has support at 486 and resistance at 523.
🔹Overall assessed as technically positive for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom |...
After EARNINGS, we could see a moving up!
Weekly Fibo lvls are oversold and the indicator Konkorde shows a change in trend
What do u think about it?
Maybe it could go above 500, but I prefer to take profit at that lvls!
If you haven`t sold COST Costco Wholesale Corporation here:
Then Analyzing the options chain of COST Costco prior to the earnings report this week,
I would consider purchasing the 495usd strike price Calls with
an expiration date of 2023-5-26,
for a premium of approximately $9.00
If these options prove to be profitable prior to the earnings release, I would...
![COST: COST - Rising Trend Channel [MID TERM]](https://s3.tradingview.com/l/LfI3Tola_mid.png "COST - Rising Trend Channel [MID TERM]")
