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CostCo Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis December 16 2022


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CostCo Wholesale Corp., Elliott Wave Technical Analysis

CostCo Wholesale Corp., (COST:NASDAQ): Daily Chart, December 16 2022, 

COST Stock Market Analysis: Costco has been moving lower as expected from the previousupdate and we are now looking at continuation lower into wave {iii}. The alternate could be atriangle in wave 4 of primary degree, to confirm the alt count we cannot break what is now lablledas wave 1.

COST Elliott Wave Count: Wave {iii} of 3.

COST Technical Indicators:Below all averages.

COST Trading Strategy:Looking for short into wave {iii}.

TradingLounge Analyst: Alessio Barretta

 

COST_12_16.png.fead240eb8cf385429978a068fd5534d.png

 

 

 

CostCo Wholesale Corp., COST:4-hour Chart, December 16 2022

CostCo Wholesale Corp., Elliott Wave Technical Analysis

COST Stock Market Analysis:It looks like we could be in wave (iii) of {iii} which I would expect as a rapid move to the downside as it is unfolding.

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

COST Technical Indicators: Below all averages.

COST Trading Strategy:Looking for shorts on the pullback in wave (iv).

COST_4H.png.c954c2ef5854c7bd68e27ea81cd18356.png

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