Jump to content

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


Recommended Posts

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
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      22,148
    • Total Posts
      93,039
    • Total Members
      42,532
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    LaiNeLaiNe
    Joined 07/06/23 11:39
  • Posts

    • With the price of Brent having failed between $77.50 and $78.50 three consecutive times in the past month, we will go short at $76.70 with a downside target at $72.00 and a stop-loss at $78.55 on a daily chart closing basis. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023
    • Charting the Markets: 07 June Indices grind higher. EUR/USD, GBP/USD and USD/CAD struggle to make headway. And WTI and gold trade in low volatility while wheat slips back. Axel Rudolph FSTA | Senior Financial Analyst, London | Publication date: Wednesday 07 June 2023                       This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Canada’s central bank is not expected to raise rates, but the resilience in the economy, sticky inflation and housing rebound could mean it has the ammunition to raise rates sooner than expected.  Angeline Ong | Presenter, Analyst and Content Editor, London | Publication date: Wednesday 07 June 2023  IGTV’s Angeline Ong takes a look at the details.
×
×
  • Create New...