COST potential Bull Trap Short

Costco Wholesale CorporationNASDAQ

Description

⋅ Nov 3, 2021 8:37 PM

COST attempted to break through resistance post FEDS conference but was rejected. Indicators still show bearish momentum. A price drop to $498, reversal, and a rejection at $502 would serve as a entry point for puts.

Price Target One: $496.70
Price Target Two: $492.21