CostCo Wholesale Corp. (COST:NASDAQ) Elliott Wave Technical Analysis October 6 2022

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CostCo Wholesale Corp., Elliott Wave Technical Analysis

CostCo Wholesale Corp., (COST:NASDAQ): Daily Chart, October 6 2022, 

COST Stock Market Analysis:Moving lower as expected, looking for further downside as nextsupport level is represented by wave B on the left.

COST Elliott Wave count: (iv) of {iii}

COST Technical Indicators:We are below all averages

COST Trading Strategy: Looking to short on wave (iv) knowing the downside is limited and witha stop on invalidation level above wave (i).

TradingLounge Analyst: Alessio Barretta

 

 

 

 

CostCo Wholesale Corp., COST: 4-hour Chart, October 6 2022

CostCo Wholesale Corp., Elliott Wave Technical Analysis

COST Stock Market Analysis: Potential triangle in wave (iv) as we look for further downsidewith RSI bullish divergence which could explode after wave (v).

COST Elliott Wave count: (iv)

COST Technical Indicators:We are using the 20EMA as resistance as well we are starting toform RSI divergence.

COST Trading Strategy: : Looking to short on wave (iv) knowing the downside is limited andwith a stop on invalidation level above wave (i).