COST shows a bullish pattern
A double bottom structure is also seen on the 1-hour chart, and the 250 SMA position is a test for the index (around 495), where day traders can take profit and wait for opportunities.
Swing traders can stop the profit taking part and add to their positions depending on the strength of the pullback. The target position could be around the previous high of 528. Stop loss will be around the previous low of 466.
A double bottom structure is also seen on the 1-hour chart, and the 250 SMA position is a test for the index (around 495), where day traders can take profit and wait for opportunities.
Swing traders can stop the profit taking part and add to their positions depending on the strength of the pullback. The target position could be around the previous high of 528. Stop loss will be around the previous low of 466.