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Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis September 7 2022

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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp.,(COST:NASDAQ): Daily Chart, September 7 2022, 
COSTStock Market Analysis:We seem to have a five wave move completed which suggests a new trend has begun. At this point we are looking for a pullback into wave {ii} to look for short opportunities.

COST Elliott Wave count:  {i} of 1
COSTTrading Strategy:Looking for a pullback into wave {ii} in s three wave manner to then resume lower.

COSTTechnical Indicators:RSI is in getting close to the oversold territory, looking for price to find resistance on the 20EMA(red line).


TradingLounge Analyst: Alessio Barretta





Costco Wholesale Corp.,COST: 4-hour Chart, September 7 2022

Costco Wholesale Corp.,Elliott Wave Technical Analysis
COST Stock Market Analysis: Looking for upside to come for the rest of the week to correct this last downward move.

COSTElliott Wave count:  (v) of {i}.
COST Technical Indicators:We could be finding support of the 200EMA(purple line) to then retrace.

COSTTrading Strategy: You could set up some trades within wave c) of {ii}, after we get a clear (a) and (b).


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