COST STOCK BUY OR LONG, TARGET $460COST has confirmed the "Cup And Handle" pattern, the target will be the $460 area with a loss of 6%.
CupAndHandle
COST trade ideas
3 U.S. Stocks That Appear Overextended To the UpsideThe following names appear overextended to the upside and may be due a retracement, creating a short term shorting opportunity.
Nvidia - we recommended the name on radio at $527 on 16/03. It's since been a strong performer, closing at $762 on Wednesday. Note the bearish divergence as per the 7-day RSI.
DocuSign Inc. - Over a 7-week period, the stock has advanced from $180 to $274. If $272 fails to hold then we could see a move back to the low $250s.
Costco Wholesale Corp. - Trading near multi-month highs, the higher price (and 22 June breakout) is not being confirmed by a higher 7-day RSI i.e. bearish divergence. Failure to hold $389 should see a move down to ~$375.
*Any failure to hold the prior day highs should be seen as an early signs of a slowdown in upside momentum.
Costco New ATHs ReachedCostco hit its ATH today, it also has triple hidden bullish divergence on the monthly MACD and hidden bullish divergence on the monthly RSI
Cup and HandleLooks like a cup and handle. Price is going down today.
I suspect it will retest the top of the handle and breakout.
Costco clearing 5 week consolidation.We can watch smaller timeframes to see if the break holds in nearest days.
COST Breakout watchI like COST long in and above the green box for a potential ATH breakout. Nice consolidation at the high after deep pullback and recovery. Targets = dotted black line and fib extension. Not interested if price drops back below 375.
pullback started?COST has begun a pullback of the recent bull run. I think the 200 daily SMA is a good target. Caveat emptor!
Cost - consolidating for next push ?Cost consolidating well near weekly SZ with higher lows , showing more buyers so far , looking good for next weekend 390c swing trade
Breakout on costco PT 392.I see costco breaking out to 392, this week will determine that.
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$COST with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $COST after a Negative Under r reaction following its earnings release placing the stock in drift D
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bullish on ascending triad on $COSTreasons behind my call out:
bullish divergence
good earnings report
positive catalyst about samples & churros returning
trend line bounce
COST Replay....So I doubled up on puts this morning on the gap down because options premium indicated 2.3% drop and closed the position on the initial drop. Nice wedge back to the old resistance, where I should've bought puts again, lol. Then back down where it belonged.
Should've seen it coming, COST almost always finishes at the bottom when it drops on earnings, the notable exception being the last earnings which happened at the bottom when it was oversold.
Also note the huge pump volume EOD yesterday and the red bars today after open and near close. Lots of people jumped into this for earnings expecting a breakout. Serves them right, lol.
Could've just played this all day instead of screwing around with other stuff.
COST EarningsI think this is going to move big in one direction or the other. Guessing down, but i could be wrong.
Obvious double top.
Will rising oil prices hurt Costco?Costco has been inversely correlated with Oil prices for quite some time, but that has changed recently.
$COST could be wrong....But looking at a small risk put for a few weeks out after earnings...might be a sell the news, beat and lower forecast with things getting back to normal, less quarantine stockpiles etc...just a theory
action packed chart of COST; to the moon off earnings!Bullish inverse head and shoulders formation on the daily chart for Costco. Earnings around the corner with expectations of a huge beat. Costco has their membership fees/incentives to help protect margins as inflation becomes a factor in everything from supplies to freight. Earnings whispers are $2.44 a share with a consensus of at least $2.28/share.
Stoch RSI compression repeated itself. The last time Stoch RSI compressed/consolidated right before earnings it went on a huge 18% run over the next 98 days, 27% over the next 186 days, and 22% by the next earnings report (196 days later).
"History doesn't repeat itself but it often rhymes"
I expect a similar breakout on earnings with this repeated pattern although price action has been terrible this earnings season even with beats & good guidance. COST could be the exception. Probably smartest to play it through options to risk less.
www.earningswhispers.com
Cup and HandleCostco formed a head a shoulders pattern a while back and experienced a deep pull back.
Looks to be recovering from the rising wedge pattern with very little disruption.
Cup and handle patterns are calculated using cup depth.
No recommendation.
If you like a stock, sometimes you can do well by waiting for the fall to complete from an ugly top or a head a shoulders pattern, then buying at the bottom. Some prefer getting in closer to the top. We are all different.
