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COSTCO WHOLESALE CORPCOSTCO WHOLESALE CORPCOSTCO WHOLESALE CORP

COSTCO WHOLESALE CORP

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COST trade ideas

COST Replay....So I doubled up on puts this morning on the gap down because options premium indicated 2.3% drop and closed the position on the initial drop. Nice wedge back to the old resistance, where I should've bought puts again, lol. Then back down where it belonged. Should've seen it coming, COST almost always finishes at the bottom when it drops on earnings, the notable exception being the last earnings which happened at the bottom when it was oversold. Also note the huge pump volume EOD yesterday and the red bars today after open and near close. Lots of people jumped into this for earnings expecting a breakout. Serves them right, lol. Could've just played this all day instead of screwing around with other stuff.
NASDAQ:COST
by hungry_hippo
action packed chart of COST; to the moon off earnings!Bullish inverse head and shoulders formation on the daily chart for Costco. Earnings around the corner with expectations of a huge beat. Costco has their membership fees/incentives to help protect margins as inflation becomes a factor in everything from supplies to freight. Earnings whispers are $2.44 a share with a consensus of at least $2.28/share. Stoch RSI compression repeated itself. The last time Stoch RSI compressed/consolidated right before earnings it went on a huge 18% run over the next 98 days, 27% over the next 186 days, and 22% by the next earnings report (196 days later). "History doesn't repeat itself but it often rhymes" I expect a similar breakout on earnings with this repeated pattern although price action has been terrible this earnings season even with beats & good guidance. COST could be the exception. Probably smartest to play it through options to risk less. www.earningswhispers.com
NASDAQ:COSTLong
by EBITDAtiger
Cup and HandleCostco formed a head a shoulders pattern a while back and experienced a deep pull back. Looks to be recovering from the rising wedge pattern with very little disruption. Cup and handle patterns are calculated using cup depth. No recommendation. If you like a stock, sometimes you can do well by waiting for the fall to complete from an ugly top or a head a shoulders pattern, then buying at the bottom. Some prefer getting in closer to the top. We are all different.
NASDAQ:COSTLong
by lauralea