Costco has been going up forever and it is almost at an attractive buying point. It broke my trend change line so I would epect it to go sideways for a few days before continuing the upwar trend. It will probably bounce arond 116-120 so try to get in as close to 116 as possible. Long-term upside potential is undetermined but it should go past its most recent highs of 126 no problem.
I would use 113 as my stop loss if you are looking for the quick dollar. I would use the weekly support for the long-termers.
1/12
Comments
octradr
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Nice breakout over the trend change line. Short-term support line is not a factor any more. 2/13
octradr
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Just dropped below weekly support. It is a weekly support so a close on Friday below this level will have more impact than today. So far no indication that it will turn around. I will keep a close watch for reversal. 2/3
octradr
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Something has to happen soon. Approaching weekly support and trend change has been resistance. 1/30
luckymox37
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with a strong pullback from the broad market...do you think the 200 day MA would hold?
octradr
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I am not too concerned with the 200 day. I would re-evaluate my position if it drops below the reaction low from 10/9 of around 110. Costco does tend to follow the market so as always...be wary. I will do a chart on the DOW right now. 1/13