Fundamentals
Pros
- Costco remains a fundamentally strong company benefiting from higher inflation as even wealthier consumers shift their spending habits to look for deals. See www.bloomberg.com (this applies to Walmart but I would argue that this is also Costco)
- Costco has been seeing stronger fundamentals than most of the market measured across various...
Costco’s stock price has seen a significant increase recently, and there are several reasons behind this rise to $820:
Strong Sales Performance: Costco posted net sales of $19.8 billion for April, up 7.1% from $18.48 billion in the year-earlier period1. Net sales for the fiscal 35 weeks were $166.44 billion, up 7% from $155.62 billion a year earlier.
Shift in...
Uber Technologies (UBER) announced six new products and features at its fourth annual Go-Get event, including a discounted Uber One membership for college students and an international rollout of Uber Eats delivery service of Costco ( NASDAQ:COST ) products. The ridesharing giant also announced new features for Uber Eats and Health, along with new ways to reserve...
Uptrend
Retail sales was released too weak today but ,as you see, Costco has not dropped like Amazon and some others. If you are high-risk trader, you can get it and if not, like me, wait for passing of this level and buy it for hold.
Just in case there will be events and information that might lead to a bearish mood for this stock, here are some elements that might act as support/resistance in the evolution of the price. There is also the potential of a continuation after a rebound from one of the elements on the up which should probably not be disconsidered.
Coco Bongo Stuff. Not sure this...
Uptrend is going to resume after this base completed and breaks out. Volume is rising as the price is going up. Price also bumped of 50 day MA suggesting strong support
What’s going on in this company, the chart is very bullish.
I bought some although the market is not reliable yet. In my view, it has a good target soon. I probably will add my position on it on Monday.
About 695 can be a good place for setting SL and mu recommend is holding it.
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...
