Jump to content

Costco Wholesale Corp.(COST) Stocks Elliott Wave Technical Analysis


Recommended Posts

COST Elliott Wave Analysis Trading Lounge Daily Chart
Costco Wholesale Corp., (COST) Daily Chart
COST Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minor 5
DIRECTION: Upside in Minor 5.  
DETAILS: Trading Level 8 at 800$ will provide resistance, looking for a five wave move to unfold in wave 5.  
 
Stocks24.thumb.png.39e0731b83dc34a516dd8070b86e7588.png
 
 
COST Elliott Wave Analysis Trading Lounge 4Hr Chart,
Costco Wholesale Corp.,  (COST) 4Hr Chart
COST Elliott Wave Technical Analysis
 
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {i} of 5.  
DIRECTION: Pullback in wave {ii}
DETAILS: Looking for a pullback in wave {ii} to then continue higher and target longs. We seem to be finding support on 720$.

This comprehensive Elliott Wave analysis provides a current and future perspective on Costco Wholesale Corporation (COST), focusing on the potential price movements as indicated by the Elliott Wave theory on the daily and 4-hour charts as of May 7, 2024. Investors and traders can leverage this detailed insight to optimize their market positions.
 
Stocks24(1).thumb.png.0bae9d363a8a2d716066623990074398.png
 
 
 
* COST Elliott Wave Technical Analysis – Daily Chart*
The daily chart of Costco reveals that the stock is currently in an impulsive, motive wave structure, specifically identified as Minor wave 5. This indicates an upward trend with expectations of continuing momentum. The analysis points out that the $800 price level, referred to as TradingLevel8, is expected to act as a significant resistance. In this phase, a five-wave structure within wave 5 is anticipated to unfold, suggesting sustained upward movement.
 
* COST Elliott Wave Technical Analysis – 4H Chart*
Zooming into the 4-hour chart, Costco is currently positioned in Wave {i} of Minor 5, and a pullback in Wave {ii} is expected. This pullback presents a strategic entry point for traders, with the stock finding preliminary support at the $720 level. Following this correction, a continuation higher in Wave {iii} is likely.
 
Technical Analyst Alessio Barretta
Source : Tradinglounge.com 
 
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
  • image.png

  • Posts

    • A friend talked about this project to me sometime past, just checked it out again .. nice features especially for game developers to be able to organize in-game objects
    • Elliott Wave Analysis Indices: Elliott Wave Analysis Indices: SP 500 & NASDAQ v of (v) of iii) of 1 of (5) of 3) of I.  NVDA Earnings has been the center of attention late in the last session and has created volatile intraday price action, however we are still on track for all Elliott wave counts, that is looking for the top of Wave iii).  The European and Asia indices will track the US indices on an intraday basis, so they too are in much the same Elliott wave patterns. Video Chapters  00:00 SP 500 (SPX), SPY ETF 08:45 NASDAQ (NDX), QQQ ETF 12:04 Russell 2000 (RUT) IWM 13:18 DAX 40 (DAX) 16:57 FTSE 100 UKX (UK100) 18:11 S&P/ASX 200 (XJO) 24:06 End Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge      
    • Currently, Bitget wallet stands as one of the most suitable decentralised wallets. It is built with everything incorporated into it, it is the hub of a handy suite of tools that cater to every crypto enthusiast.  It is interesting to note that it has been over 6 years since the platform commenced rendering crypto services. In commemoration of its 6th anniversary, an event has been set up to let its users earn some good amount and merch along with.  The criteria for participation is relatively easy. You just need to join to win exclusive merch, firstly by following @BitgetWallet while adding a RT + Comment #BitgetWallet6Years’’ Similarly, you can give insightful feedback about Bitget Wallet and stand a chance to win Bitget exclusive merch like T-shirt, Cap, Hoodie and Wristband. I will be jumping on this event too. Such an easy peasy way to earn.
×
×
  • Create New...
us