EW analysis - Can Costco double?
Updated
As long as Costco doesn't fall below 447.9 it looks like it is in a big wave 4 of Supercycle degree. A Supercycle that started in October 1987.
This wave 4 is developing as a triangle.
Wave e of that triangle should reach approxemately 465 - 468 Dollar.
From there a reverse fibonacci would indicate a target for wave 5 at about 1100 USD.
This is all in log scale.
This wave 4 is developing as a triangle.
Wave e of that triangle should reach approxemately 465 - 468 Dollar.
From there a reverse fibonacci would indicate a target for wave 5 at about 1100 USD.
This is all in log scale.
Note
The correction in Costco is nearing completion or might already be finished.I don't like gaps for the simple reason that from an Elliott-Wave perspective one never knows what those gaps conceil.
It could be a five-wave move to the downside or just wave 3 of it. Either way the correction should find it's end in the region around 160 USD and give way to a new impulsive move to the upside.
Keep a close look at Costco. These are buying prices.
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