COSTCO IS A GREAT STOCK, but the price action is showing a cool off after this strong run up almost 40% from the May lows! The current bull trend is in a Huge rising Wedge, and also the overall chart is showing a head and shoulders formation in the making in the near future. Look to load up on puts at these 2 marked areas!
I doubt lower lows way back down their, I'd say if it does sell off then back to about 500 area. it did not touch rsi70 this time so technically it hasn't been overbought yet. I just don't think their is enough going on like their was before the June rally to push it back down that far.. and if it's is in a good positive up trend shouldn't it get higher lows to keep the trend up and strong? Also looking at the size of next earnings estimate it looks like it's going to be substantially much larger than usual, 77b revenue from about 55b, so that looks like a big positve catalyst.