Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis November 15 2022

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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (COST:NASDAQ): Daily Chart, November 15 2022, 

COST Stock Market Analysis: It has moved exactly as predicted from the previous forecast bymoving higher into wave {c} of 2. At this point we could be close to the end of wave 2 and lookingto resume lower.

COST Elliott Wave Count: Wave {c} of 2.

COST Technical Indicators:Just above the 200EMA.

COST Trading Strategy:Waiting for a break of confirmation line at 474$ before consideringshorts.

TradingLounge Analyst: Alessio Barretta

 

 

 

 

Costco Wholesale Corp., COST: 4-hour Chart, November 15 2022

Costco Wholesale Corp., Elliott Wave Technical Analysis

COST Stock Market Analysis: There’s a chance as you can see in the chart that we have fivewaves up into wave {c} already. Alternatively we could have just finished wave (iii) and be lookingfor one last move higher into wave (v).

COST Elliott Wave count: Wave (v) of {c}.

COST Technical Indicators: Above all EMAs, rejecting 0.618 wave {c} vs. {a}.

COST Trading Strategy:Waiting for a break of confirmation line at 474$ before consideringshorts.