HI guys. This is an analysis thread to assess the technical developments found in Costco. I will layout some general findings on the macro scale, then update as new developments proceed in the technicals for COST. The purpose is to provide unbiased TA opinions, where i give both bearish or bullish cases depending on facts in charts to help make informed...
COST show a relatively high level of large-scale triangular
This chart shows the weekly candle chart of Costco's stocks over the past year. The top to bottom golden section at the beginning of 2022 is superimposed in the figure. As shown in the figure, Costco's stock peaked in April 2022, plummeted, and began to strengthen in May 2022, showing a relatively...
If you haven`t bought COST ahead of the previous earnings release:
Then analyzing the options chain and the chart patterns of COST Costco Wholesale Corporation prior to the earnings report this week,
I would consider purchasing the 540usd strike price Puts with
an expiration date of 2023-10-20,
for a premium of approximately $6.30.
If these options prove to be...
Cup and Handle has formed on Costco and the system has lined up beautifully for a long with a target of $587.65.
However, no trade will be taken according to the system as there is a GAP in the pattern.
Gaps close 70% of the time... It might work out but through my experience, gaps close shortly after (which is where the stop loss would more or less be).
WARNING:...
Looking at the COST Costco Wholesale Corporation options chain, i would buy the $475 strike price Puts with
2022-9-30 expiration date for about
$5.15 premium.
Looking forward to read your opinion about it.
530.5 is an important level for Costco. This level coincides with 34 EMA.
If the stock crosses this level, then we can go long with a target of 543.
If the stock is not able to cross this level, then I would go short with target of 510
Costco appears to be forming a huge H&S on weekly. While I hadn't really paid much attention to Costco I did see it mentioned yesterday which caused me to take a look. Want to note that Costco has performed strong relative to the market and that's why I like it for a short. This recent rally over the past couple of months is leaving a lot of meat on the bone for a...
TGT is down 25% after the earnings today.
Could COST be next?
if we look at the P/E ratio, TGT has a P/E of 15.58, while COST much higher, 39.87.
I wouldn`t be surprised to see a retracement of COST at the pre-pandemic level of $387.
Looking forward to read your opinion about it.
Pattern: Channel Up on 1W.
Signal: Buy as the price broke above its Resistance (and November 2020 High), in a similar sequence as the April-May 2019 fractal. Even the RSI sequences are identical indicating that the price is breaking outside of this consolidation pattern.
Target: Within the 1.5 - 2.0 Fibonacci extension zone (as in 2019).
** Please support...
