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Costco Wholesale Corp (COST:NASDAQ) Elliott Wave Technical Analysis 1 September 2022


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Costco Wholesale Corp., Elliott Wave Technical Analysis
Costco Wholesale Corp (COST:NASDAQ): Daily Chart, September 1 2022,  
COST Stock Market Analysis: We could be moving lower for wave (C), as we are starting to unfold lower and we broke the previous higher low.  
COST Elliott Wave count:  (v) of {i}.
COST Trading Strategy: Looking for completion of wave {ii} to then look for longs.  
COST Technical Indicators: We broke through the 20EMA(red line) which is a bearish sign, eventually it’ll become resistance for wave {ii}.
 
TradingLounge Analyst: Alessio Barretta
COST_9_1.png.f36bca660f5bae547933c78b384ca416.png
 
 
 
 
Costco Wholesale Corp., COST: 4-hour Chart, September 1 2022
Costco Wholesale Corp., Elliott Wave Technical Analysis
COST Stock Market Analysis: Looking for a pullback to start soon as we are approaching invalidation level(wave (iii) being the shortest). In addition to that we can also see a potential head and shoulder.
COST Elliott Wave count: Wave (v) of {i}.  
COST Technical Indicators: Getting closer to the 200EMA(purple line) which could offer support from where to start wave {ii}.
COST Trading Strategy: Looking for wave {ii} to come first before taking any action.
COST_4H.png.aa58e7361cba56eed194a5f393c485c2.png
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