Costco Possible Target at 280There is a Fibonacci cluster at 280. Also resistance at 50 for RSI in the bull market suggest there will be another all time high coming
COST trade ideas
COST one of the man chart that hit it's expected moveBack to earth COST goes. Be careful holding stocks that hit their expected move. This market isn't that strong right now. Some more down side but hard to say how much.
Costco ascending wedge bearishLooks like a blow off top here! I give it from here to $250 as the tap out point for longers.
Costco ascending wedge is bearish
Price is on resistance of ascending wedge
Price candle body far outside daily upper bollinger band
Stalking for a crash. Good traders stalk 90% of the time and trade only 10% of time. Quote me. :) :)
In this screencast I run through several superhot equities on the monthly time frame.
The higher time frames are often the cause of surprises for people' on 15min - 1H time frames.
Then the end of the screencast I look at the VIX on the 2 hour time frame for signs of nervousness.
I suspect - not predict that something big is coming.
Costco's got a bull flag on the 15 min chartWait for a candle to close above the flag, then i'm long.
COST Bull FlagNoticed a flag appearing on COSTCO and entered position on bounce and break.
target at around 133-134 are but no current limit. Used more of an entry for long term EPS generally growing and PE is also getting higher but at a much lower pace.
Stop is low due to the nature of getting into the position. If it were to go that low from entry then I expect the market has changed for the position and sentiment would turn more bearish.
Keeping on position for time being to find any blatant exit signals.
COST - ShortSomeone shared this chart and caught my attention. I do agree with his formation and see an upcoming drop.
I started a pos with $220 PUT 10/19, 8.78 avg. May add more into my position since this can continue to go up until mid-August - worst case scenario.
Short COST on throw-overThis 120m chart of COST shows a pattern that I trade frequently - the ending diagonal. It is a setup that, when identified correctly, can result in sharp moves lower as the stock breaks out of its impulsive sequence. I recently placed a similar trade on INTC that is working well.
As COST grinds higher in a converging wedge, it looks to have "thrown-over" trendline resistance. This is common in ending diagonals as price makes one final push before breaking lower through the bottom of the channel. Initiating a short position at 207.50 for a move back toward 180. A sustained rally through 215 will cause me to reevaluate the trade.
COST trending WILL it hit all time higher and continue trending,
adx is strong, and there are some nice trend-lines beneath the stock.
$COST Over-extended on Weekly Chart$COST Costco looking over-extended on the weekly chart, appears to be holding within the upward channel limits. Valuation getting a little rich compared to industry average (P/E almost 50% > industry average).
Assuming this trend line holds, Costco could be overdue for a correction back to the area of the 50d ema or ~$190 by next ER (Oct).
Note: Observation/opinion, not investment advice.
COSTCO Bullish Breakout Bullish breakout from flag and resistance. expected price action is bullish resumptions up trend
COSTCO shortStocks have had these setups, plenty of them these weekend. I have highlighted those with large possible pip moves... the Netflix move I estimate a 12K move over the next 2 to 3 weeks. So the same with Costco here, very large move.
Nice breakout move on CostcoAfter a long consolidation move towards the downside, this one finally broke out to a directional upside above the major moving averages (good to see).
COST setting up for a 30pt moveC&H on daily and an IHS in the handle breaking out. Measured move of ~$30
COST Daily Bullish bat patternIt's been a while since I posted COST idea last time as it didn't really give any great daily set-up.
In terms of this daily bat, the pivot isn't the perfect one as it didn't make new high afterwards, so a nice reversal sign near 178 is necessary for this trade!
I like to turn to retail consumers sector when it comes to market fluctuation, it won't hurt as much when the market pulls back and it can follow the market's rally.
Let's see how it goes!
