COST trade ideas
Costco Wholesale $COST#Costco Wholesale is approaching to pivot resistance but on 2 hourly chart already gives a signal for a pull back
Costco Approaching ATH, on breakout alert
Alert set for $ 325
RSI in strong uptrend and room to run higher.
MACD crossed above zero line
Histogram higher
Moving averages support.
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!
COSTCO $COST playing to the script so far..go longCOSTCO $COST playing to the script so far.. Go long
COST DAILY WEDGEForming wedge pattern, need buyers to break the upper trend line for continuation
note: has made a lower swing low,
Swing PUTS - this stock is still near topOn the weekly chart, this line graph removes the noise of candles and you can see how the current price over 300 is still near the highs. Two different green support lines converge. This may take time, so look for put entry signals on hourly and daily chart.
Also the long red candle a few weeks back dropped %K from over 80 to under 20, which often forewarns of more downside to come.
COST Round upCOST has all the support of its moving averages, (13ema, 30ema, 50sma), that will help push it up to the top of the range to 325. This is forming a rounding pattern as well. Which will also turn into a double bottom once it reaches resistance with a potential breakout. This trade i'll exit at 325 and wait for confirmation of a breakout, at that point i'll reenter. COST is also a relative strength stock compared to the rest of market and has been unaffected by corona virus.
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.
Remains bullish in and above box.COST showing relative strength.. Must be the sale of all that toilet paper.
Like it if it holds inside the box and above.
levels that COST must holdCostco must hold these levels. Else further correction into the weekly 50ma is likely.
