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Costco Wholesale Corp. (COST:NASDAQ) December 2 2022


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Costco Wholesale Corp., Elliott Wave Technical Analysis
Costco Wholesale Corp. (COST:NASDAQ): Daily Chart, December 2 2022,  
COST Stock Market Analysis: We finally had the down move we have been anticipating for quite some time now. At this point we haven’t necessarily entered wave 3 however we can look for the structure of the next upward pullback to check whether it’ll be a three or five wave move.  
COST Elliott Wave Count:  Wave {i} of 3.
COST Technical Indicators: Moving averages are starting to cross.  
COST Trading Strategy: Looking for shorts on the pullback in wave {ii} with invalidation level marked up where the red line is.  
 
TradingLounge Analyst: Alessio Barretta
 
COST_12_2.png.c08e2cdd6c96ed11cc5a6a573d8175ce.png
 
 

 
Costco Wholesale Corp COST: 4-hour Chart, December 2 2022
Costco Wholesale Corp., Elliott Wave Technical Analysis
COST Stock Market Analysis: We managed to have a sudden reaction lower off equality of {a} vs. {c} which is why it is crucial to look for waves relationship when you are looking for both entry and exit strategies.  
COST Elliott Wave count:  Wave {i} of 3.
COST Technical Indicators: Below all EMAs.  
COST Trading Strategy: As we have a peak of volume exactly where we stand I would be looking for a pullback higher to start soon, and look for additional shorts from there.
COST_4H.png.4502630e77be93eb8844f107a2a8b10d.png
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