COSTCO resuming its uptrend in a historic bull runUptrend is going to resume after this base completed and breaks out. Volume is rising as the price is going up. Price also bumped of 50 day MA suggesting strong support
COST trade ideas
Costco ,,, PowerfulWhat’s going on in this company, the chart is very bullish.
I bought some although the market is not reliable yet. In my view, it has a good target soon. I probably will add my position on it on Monday.
About 695 can be a good place for setting SL and mu recommend is holding it.
Post Earnings Announcement DriftIn December 2023, I purchased COSTCO to try PEAD (Post Earnings Announcement Drift). It's a swing trading strategy. Points in the algorithm I have followed:
2023.12.14: Q1 after the opening of the stock exchange (advance accounts).
2023.12.15: 658.82 – 630.78 = 28.04 => 4.45% > 4.15%
Buy Wednesday 2023.12.20 and hold until Monday 2024.04.22. Buying and selling is when the stock market opens.
Nasdaq index > MA 87
Following the algorithm, the time has now come for sales. The price is now also under the cloud in Ichimocu.
Sale 710,00 USD
Dividend 16,02 USD
Purchase 670,64 USD
Gain 55,38 USD
% Gain 8,26 %
Maybe not very impressive, but also not bad at about 3 months. COSTCO could also be relevant long, may refer to:
finance.yahoo.com
Speculation to correction risk: COSTNASDAQ:COST was over-speculated by retail groups. Extreme angles of ascent do not hold. The severity of the recent angle of ascent due to speculation warned well ahead of time that COST would have a meltdown when buyers evaporated. The first strong support level is at the black line.
The Weekly chart shows stronger runs up than down. Costco is frequently speculated as there are retail gurus and chatroom groups, etc. that run the stock up from time to time. However, this stock is absurdly overpriced at this level and needs to do a split.
COST heads up at $783: major resistance, maybe "a" or "the" Top?This is a followup to my previous $783 call (click).
We expected $783 for bull target.
We suspected $783 as maybe a top.
We've butted up against it just now.
Lets see if we get some clues here.
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COST - with a KST crossoverNASDAQ:COST with Martin Pings KST "know sure thing" indicator, which uses a composite of 4 smoothed rates of change to identify changes in trend. Shown here with a Chaikin oscillator (accumulation/distribution). If we were to enter and exit the day after a cross over the worst case outcome over the past 3 years was 1.5% return in August 2023.
Technical Analysis of Costco Wholesale Corporation (NASDAQ:COST)Costco Wholesale Corporation's stock (NASDAQ:COST) exhibits a technical posture that warrants a nuanced discussion. Currently trading at $726.80, COST's market temperament is deciphered through various technical indicators and chart patterns across multiple time frames, yielding insights into its future price trajectory.
Technical Indicators:
Ichimoku Cloud (4-hour chart): COST's price action resides within the Ichimoku Cloud, suggesting a zone of equilibrium where buyer and seller momentum is in contention. The equilibrium is further confirmed by the price oscillating around the baseline (Kijun Sen). A decisive breakout above the Cloud could signal bullish momentum, whereas a drop below it may imply bearish prospects.
Fibonacci Retracement (4-hour chart): The price respects key Fibonacci levels, currently testing the 38.2% retracement level at approximately $730.69. This level serves as a critical juncture; holding above could entice buyers, while a breach could see price gravitate towards the 50% or 61.8% levels, at $713.38 and $696.07, respectively.
Relative Strength Index (RSI) (4-hour chart with a 14-period setting): RSI meanders around the 50 mark, indicative of a neutral momentum with no immediate overbought or oversold conditions. The absence of extreme readings suggests a lack of conviction among traders, awaiting a catalyst for directional bias.
Moving Average Convergence Divergence (MACD) (4-hour chart with 12, 26, 9 settings): The MACD line is converging towards the signal line, hinting at a possible momentum shift. Should the MACD cross above the signal line, it would be interpreted as a bullish indicator, potentially catalyzing an upward price movement.
Volume and On-Balance Volume (OBV): Volume trends relatively flat, with OBV corroborating the consolidation phase, indicating that significant volume has not yet entered to confirm a trend.
Price Action & Patterns:
COST's price action has formed a consolidation pattern, with recent candlesticks suggesting indecision. The latest candles have short bodies with small shadows, signifying a balance between buyers and sellers. A breakout from this consolidation with increased volume could be imminent, given the observed coiling of price action.
Fundamentals and Market Sentiment:
The financials indicate a stable increase in revenue with a maintained net margin, a healthy sign of operational efficiency. The debt level seems manageable when juxtaposed with free cash flow and cash & equivalents. However, the earnings estimates for 2024 show some contraction, which could inject volatility into the price dynamics.
The overall market sentiment appears cautiously optimistic, given COST's strong fundamental backdrop and the upcoming earnings report in 45 days. Traders should closely monitor this event for potential impact on the stock's valuation.
Price Target Speculation:
If bullish momentum persists and the price breaks above the Fibonacci level of 38.2% and out of the Ichimoku Cloud, an initial target of $752.11 (23.6% Fibonacci level) could be envisioned. Conversely, should bearish pressure prevail, the price may retreat to test the $696.07 (61.8% Fibonacci level) as a potential support.
In conclusion, Costco's stock finds itself at a crossroads, with technical indicators suggesting a balanced field between bulls and bears. Traders should stay attuned to both technical cues and fundamental events, such as the upcoming earnings report, to gauge the stock's future direction. As always, it is prudent to consider broader market conditions and integrate risk management strategies when engaging with the stock.
Costco setup nicelyThe chart for costco is setting up nicely . A bounce from the lower range of the falling wedge and a 5th wave pivot. Going long and targetting 782
COST heads up at $730 then 780 final target? Costco projectionsCostco has been flying thru ATH levels with gusto.
Now approaching a confluence of fibs around $730.
Higher up is a cluster of 3 "Golden" fibs around $780.
Plotted above are three different fib sets (waves).
Thick lines are the Genesis Fibs (click for full chart).
Each fib alone could turn price, confluences more so.
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COST: Approaching a reversal zone between 660 and 680Costco stock shares are nearing a zone of buying interest between 660 and 680, presenting an opportunity for bullish traders. On the upside, the region between 740 and 800 is likely to attract bearish sentiment during the second quarter of 2024
Costco, swing trade longNice parallel channel long trade has presented itself. Last time Costco had earnings the stock dropped 7%, then soon after rallied to ATH. The current earnings resulted in another 7% drop, and it is reacting with a solid ascending parallel channel.
I think a long is suitable here.
COSTCO: $COST PPI reading optionsI am quite bullish on Costco wholesale, they have show amazing growth this year to date and continue to demonstrate strength in the retail world. I am bullish regardless of the reading in the long term. I beleive we have to case scenarios for NASDAQ:COST
Option 1: Good Reading, will casue this stock to continue to pump up about 1-1.5%. This could create enough momentum to complete the butterfly pattern.
Option 2: Bad Reading, will cause the stock to drop and fill the gap at 714. This could present an excellent long opportunity if the double bottom plays out correctly. Timing and patience will be key before we start our accension upward.
I will try my best to update on this. be smart, be patient, and trade on!
-Whales
$COSTLong above weekly Cloud trim at resistance. Get involved again on a daily close over resistance
- Call debits to allow it to wiggle or 2 weeks Delta 35-50
COST broke the trendline, now it is going to go downCostco stock fell 7%+ today, breaking the overall trendline on the D and 4H graphs. I predict that it will have a green day on Monday because the market will retest/correct itself, and after touching the R1 price on pivots (Fibonacci), we can short COST. With a risk-reward ratio of 1:3, less risky traders can exit at a given price in the image, and if you can hold more, the exit price would be $671 (but don't do this because if the overall market is up, COST will have a hard time touching this FVG).
$COST Misses Holiday-Quarter Revenue ExpectationCostco ( NASDAQ:COST ) missed Wall Street’s revenue expectations for its holiday quarter, despite reporting YOY sales growth and strong e-commerce gains.
NASDAQ:COST Shares fell about 4% in aftermarket trading on Thursday but the stock bounced and surged by about 1.6% in Premarket trading on Friday. The company’s stock had hit a 52-week high earlier in the day.
Earnings per share: $3.92 vs. $3.62 expected Revenue: $58.44 billion vs. $59.16 billion expected
In the three-month period that ended Feb. 18, Costco’s net income rose to $1.74 billion, or $3.92 per share, compared with $1.47 billion, or $3.30 per share, a year earlier.
Costco’s revenue for the quarter increased from $55.27 billion in the year-ago period.
Comparable sales for the company increased 5.6% year over year and 4.3% in the U.S. Excluding changes in gas prices and foreign currency, the metric increased 5.8% overall and 4.8% in the U.S.
Sales of food and sundries, a category that includes snack foods and beverages, were up by mid single digits in the quarter, CFO Richard Galanti said on the company’s earnings call. Fresh foods were up high single digits and nonfoods were up mid single digits.
Ancillary businesses, which includes more service-related purchases like travel, were up by low single digits, he said. Costco’s food court, pharmacy and optical centers were top performers in the quarter and gas was down low single digits as the price per gallon fell.
Costco ( NASDAQ:COST ) has 875 warehouses, including 603 in the U.S. and Puerto Rico. It also has clubs in about a dozen other countries, including Canada, Mexico, Japan and China.
In the second quarter, Costco ( NASDAQ:COST ) opened four new clubs, including three in the U.S. and one in Shenzhen, China. That marked its sixth club to open in China, Galanti said. Two of the three new U.S. locations were Costco Business Centers, which are specifically geared toward small business owners like restaurant operators.
Costco ( NASDAQ:COST ) shares have risen nearly 19% since the start of the year. The stock touched a 52-week high of $787.08 earlier in the day and closed at $785.59, bringing the company’s market value to nearly $350 billion.
Costco's Digital growth
Costco ( NASDAQ:COST ) has made changes to its website to improve the experience for online shoppers. It’s also tweaked its business to be more digitally savvy.
E-commerce sales grew 18.4% in the quarter compared with the year earlier. For example, Costco ( NASDAQ:COST ) rolled out a new mobile app homepage in February, which loads in less than two seconds compared with eight seconds previously — a move he said was crucial since about 60% of its e-commerce business is done through its mobile app and mobile browser.
It rolled out Apple Pay last week to all members online. And it’s adding more merchandise to Costco Next, a seller platform that allows members to buy directly from some of the retailer’s suppliers at a discounted price.
E-commerce sales have also gained momentum as Costco ( NASDAQ:COST ) has gotten better in recent months at touting the value of its online merchandise, particularly for big-ticket items like appliances, mattresses and tires.
App downloads were up 2.8 million in the quarter and and currently total about 33 million, Galanti said.
Membership fees
Costco ( NASDAQ:COST ) has seen more membership sign-ups as the company has cracked down on membership sharing, Galanti said. During the pandemic, he said the warehouse club noticed more people using their mom or dad’s membership card and let it slide. Then, he said, the membership sharing grew because self-checkout became more common at clubs.
Investors have been waiting for Costco ( NASDAQ:COST ) to raise its membership fees for more than a year. The company has typically increased its annual fee roughly every five and a half years. It last hiked fees in June 2017.
But Galanti said the company is not hiking the fee yet. Though he added, “It’s when, not if.”
Costco Completed a Harmonic PatternCostco Completed a Harmonic Pattern
It is one of those stocks that since COVID-19 the price increased by nearly +130% and it keeps rising.
So far the price stopped at the pattern completion zone and probably it can wait in this zone for the Earnings report which will be released on 07-March-2024
I am not expecting the price to move down like a rocket
but from this zone near 725 - 737, we can see any correction.
The market participants have to take profits time after time and I think that this is one of those moments, before Costco grows more.
If you are in this trade as a long-term trader it is better to know that we may see any bearish correction.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
COSTSee chart. Nice Wyckoff spring and markup. The consolidation wave may take until May to wrap. Start hunting quality entries.
Costco About To Complete a Harmonic PatternCostco About To Complete a Harmonic Pattern
Costco looks unstoppable since a long period of time.
It is one of those stocks that since Covid-19 the price increased by nearly +130% and it keeps rising.
At this moment I spotted this Bear Harmonic Pattern.
I am not expecting the price to move down like a rocket
but from this zone near 715 - 737 we can see any correction.
It is normal that someone will take profits time after time and I think that this is one of those moments, before Costco grows more.
If you are in this trade as a long term trader it is better to know that we may see any bearish correction.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
COSTCO: Potential BuyPrice broke above from the bullish pattern supported by the Ichimoku cloud. I'm expecting the upside momentum to continue. First target around 700 USD.
Watch and wait for CostCost has moved to the breaking target, there is a profit taking signal in the weekly RSI, our job is to wait for the weekly candle to close below 683, we can consider selling Cost shares to the 2 targets below.
Top stock picks for the next years No. 4 Costco WholesaleI am publishing a series of the best stocks with the highest growth rates that I expect over the next few years. Today with the Costco share with a target price of 1024$
COST Symmetrical TriangleNASDAQ:COST
Costco Wholesale Corporation is one of the most successful companies in the US. Costco investors have seen a return of 453% over the past 10 years, while the S&P 500 has moved roughly 206% over the same period.
Despite the impact of inflation, Costco has continually offered lower prices relative to their competitors, yet their net margins are 2.65%, the highest they have ever been.
Technical patterns suggest a symmetrical triangle pattern on the weekly timeframe, which could indicate a retracement to all time highs ($612.27). A breakout and rally is very plausible, with a potential price target of $700.
