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chiefwils0n

Nice Run. Pullbacks necessary. Short to $355?

Short
Costco Wholesale (NASDAQ:COST)  
chiefwils0n  
NASDAQ:COST   Costco Wholesale
Trend Analysis Chart Patterns Technical Indicators
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trendanalysis chartpattern indicator
Greetings All,

COST, along with Home Depot (HD) have been on a tear lately. However, targeting the reversion to mean principle, I expect COST to retrace to the 50MA around $355. There is also bearish RSI divergence on the daily chart.

Happy Trading !
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