Costco Wholesale Corp.(COST:NASDAQ) Elliott Wave Technical Analysis 7 November 23

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Costco Wholesale  Corp., Elliott Wave Technical Analysis

Costco Wholesale  Corp., (COST:NASDAQ): 4h Chart 7 November 23

COST Stock Market Analysis: We have been stuck in this correction in wave 2 for a while, as it became a double correction. It looks like we could have found support on 550$ and we are now resuming higher. Invalidation would stand on the bottom of wave 2.  

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

COST Technical Indicators: In between averages.

COST Trading Strategy: Looking for upside into wave 3.  

TradingLounge Analyst: Alessio Barretta
 

 

 

 

Costco Wholesale  Corp., COST: 1-hour Chart 7 November 23

Costco Wholesale  Corp., Elliott Wave Technical Analysis
COST Stock Market Analysis: We are looking at wave {i} unfolding to the upside. Given the steepness of the up move, it seems to be trend establishing. Looking for a series of threes and fours.  

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

COST Technical Indicators: Above all averages, 20 and 200EMA crossed.  

COST Trading Strategy: Looking for longs into wave {i}.