It is one of those stocks that since COVID-19 the price increased by nearly +130% and it keeps rising.
So far the price stopped at the pattern completion zone and probably it can wait in this zone for the Earnings report which will be released on 07-March-2024
I am not expecting the price to move down like a rocket but from this zone near 725 - 737, we can see any correction.
The market participants have to take profits time after time and I think that this is one of those moments, before Costco grows more.
If you are in this trade as a long-term trader it is better to know that we may see any bearish correction.
You may find more details in the chart! Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Hi and thanks for your commentary. Regarding the below information you posted regarding Costco, is that supposed to say "NOT' in it, as in "...that we may NOT see any bearish correction."? Thanks again: "If you are in this trade as a long-term trader it is better to know that we may see any bearish correction."
KlejdiCuni
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@stckmkt1, hi The pattern is bearish which is signaling for a possible bearish correction or a possible bearish movement. So this is what I wanted to share. And who is a long term trader on Costco can now this information...you can use it as you want. To be clear it is not a must that the price should respect this pattern but as I see it stopped there.