COST Symmetrical Triangle

wadtrades Updated   
NASDAQ:COST   Costco Wholesale

Costco Wholesale Corporation is one of the most successful companies in the US. Costco investors have seen a return of 453% over the past 10 years, while the S&P 500 has moved roughly 206% over the same period.

Despite the impact of inflation, Costco has continually offered lower prices relative to their competitors, yet their net margins are 2.65%, the highest they have ever been.

Technical patterns suggest a symmetrical triangle pattern on the weekly timeframe, which could indicate a retracement to all time highs ($612.27). A breakout and rally is very plausible, with a potential price target of $700.
Trimmed some around 690, holding 65% of position. Really would like to see retest of support near 650 for another buy.

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