Get started

Costco

Triple Bottom or Inverted H&S?I have placed 3 green arrows representing the triple bottom, which is also the head of an inverted H&S. The RSI looks healthy, I see no reason why Costco won't perform bullishly going forward. A triple bottom is a visual pattern that shows the buyers (bulls) taking control of the price action from the sellers (bears). A triple bottom is generally seen as three roughly equal lows bouncing off support followed by the price action breaching resistance. The formation of triple bottom is seen as an opportunity to enter a bullish position. The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market. While the first bottom could simply be normal price movement, the second bottom is indicative of the bulls gaining momentum and preparing for a possible reversal. The third bottom indicates that there's strong support in place and bears may capitulate when the price breaks through resistance levels. An inverse head and shoulders is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends An inverse head and shoulders pattern, upon completion, signals a bull market Investors typically enter into a long position when the price rises above the resistance of the neckline. The dark Blue line on the chart represents the neckline.
NASDAQ:COSTLong
by ScotianBot
1
Should We Fill Our Oversized Cart 🛒 With COST? | COSTCO ($COST)🔥🛒🔥 Costco's fundamentals have us thinking about buying enough COST to feed a family of 8... but do we really need all this COST now? While the trend looks good, Costco isn't as cut and dry as some other COVID impacted stocks. Still, we expect revenue and earnings to be up again since last quarter and we expect people getting back to life after COVID to choose Costco. This should ultimately give COST a boost, and that has us looking at some levels for bulls who want to buy COST like a way too big tub of dip. First, before we look for lower levels, we need to be aware of R1. R1 is currently acting as resistance but should flip and act as support if and when COST can break above it. Below we have S1 - S3 for support. S1 is the first place to look for support if the broader market pulls COST down, if earnings are underwhelming, or if we generally see consolidation before a move up for any reason. S2 - S3 are levels to watch if S1 can't hold. Our general theory on COST can be seen in the chart. We are looking for similar price action here that was seen back in 2018 - 2019, that is a move up, consolidation, and another move up to new highs. We expect COST to continue its uptrend ultimately, and that means we are looking for a pullback to S1 or S2. Lastly, while there is more support below, a move below S3 could make COST a much less attractive prospect for the bulls. The bottomline here is this, we are bullish on Costco and expect earnings to be impressive, but we want to look for longs after a correction or after we break above current ATH's, not at as we consolidate under resistance. Resource: www.earningswhispers.com + www.foxbusiness.com ✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- Good luck traders!
NASDAQ:COST
by AlphaBotSystem
Costco Next Target: $310 Short, then $325First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. Costco has surged recently, and I been wanting to do an analysis for Costco for a while (I wonder why). That being said, the next target for what I would say Monday or Tuesday is $310. The weekly threshold target I am hoping it would pass with mid risk is $325. Right now I am mostly bullish as many analyst are seemingly giving it buy signals.
NASDAQ:COSTShort
by gamer456148
2
The Future of Food (Wholesale Foods)The Future of Food (Wholesale Foods) is very important on Earth! The price of food today is about 7 to 10x what it use to be in the middle of this past 20th century (1972ish). Just before the the beginning of the 1990's there was a sudden "wholesale foods" boom. The value of "wholesale" food companies like Costco doubled after one time around the sun and then went up by nearly 20x value in the early 1990's and then value of "wholesale" foods suddenly dropped? After an almost complete collapse of the "wholesale" foods industry in the early 1990's was perhaps the most important time in the history of "modern food" on earth. Its likely that food prices need to go up because grocery stores are making so little money.. Many people are use to walking into a grocery store and seeing it full of food. I was really surprised that a certain large grocery store made almost $200,000 dollars per employee per year. Grocery Store profit (however) are less then say 5% in actual profit and sometimes as little as 2%. Many grocery stores are billion dollar and certainly million dollar businesses. When you think about it the food economy should be and is a multi trillion dollar a year industry. When "wholesale" foods started going up in the mid 2000's they went up about 1000% times and then 2000% up!? Today the value of the stock is about 12200%+ more than the value that "wholesale" started at in the 1980s. If you study very very carefully the entire history of "wholesale" foods, the "first" ideas of "wholesale foods" was not accepted. "wholesale foods" had one full year of problems before it started. These early problems with "wholesale" foods are (clearly visible on the exponential graphs in the late 1980's) Its likely that our actual virus and health problems are actually cased by buying and selling "strange foods" particularly in Wuhan China and perhaps even a larger problem in Indo China and Costal Asia and Pacific Islands. Its likely that the problem we are seeing is with “wholesale foods” globally. The problem is not just with the "sick animals" its "water pollution" along the Yangtze River which is one of the most important fresh water rivers on Earth and the central river in China. For several decades NASA imagery of China and India and Thailand has shown so much air pollution in these areas that its viable on live “NASA Worldview” Imagery every day for years and years. In many places around the world you cant even see the ground from a satellite image because there is so much air pollution. The foods market in Asia and in Wuhan was actually called the Huanan SEAFOOD WHOLESALE Market. Although the COVID-19 Coronavirus is a “respiratory” virus the market actually had a lot of “seafoods” and was also a “wholesale” “fast foods” market place. It maybe that one of the key problems is actually a "wholesale" foods marketplaces problem? Environmental problems are perhaps the key to understanding modern economic collapse. Hope this helps you! Asher!
NASDAQ:COST
by idasuperman
COST Doomsday prep?It has been a wild week so far on the market, with price swings up and down. Cryptocurrency seems to have a correlation with the US market, following the market. This is due to cryptocurrencies youth. In this post I want to see the share price of Costco will increase as demand increases with the current corona virus outbreak. The chart doesn't look great in the short-medium term with a double top and a strong horizontal resistance formed, however long term this would be a great entry point.
NASDAQ:COST
by Bixley
$COST ~ COSTCO~ SHORT SETUP USING PUT SPREAD~ #OptionsTradingMETHOD: Short COSTCO {price at entry ~ 292} via: +2 VERTICAL COST 100 (Weeklys) 27 DEC 19 300/292.5 PUT @5.00 ; Trading @ low IV after the earnings dump; Decay helps if price < 294; Sold high extrinsic put to buy high intrinsic put STRATEGIES: Using COST day chart: The 20/50 Mean looks set to make a big pink cloud after a long chart runup. The Fisher Transform line signaling a continuation short. The last earnings bailing of stock price turned out to last a few days. TACTICS: The plan in terms of stock price: STOP is price > 295 (MUST OBEY, Upside down R:R trade) TGT1 288 to scale; TGT2 286.25 to exit (NO EARLY EXIT, Upside down R:R trade) Consider scaling as pink cloud becomes large We may let the Fisher Transform and 20/50 mean together take us out technically for whatever we get win or lose. Will update in comments, B3 d^.^b
NASDAQ:COSTShort
by HammondB3