$COSTBig red hammer, price bounced EOD.
Looking what seems like a potential morning star reversal.
Do not trade this. You will lose money.
Costco
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.
Costco on steroidAnyone looked at Costco before ? Previous recessions hadn’t affected it a bit
Just observation
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 $COST playing to the script so far.. Go long
COST Doomsday prep?It has been a wild week so far on the market, with price swings up and down. Cryptocurrency seems to have a correlation with the US market, following the market. This is due to cryptocurrencies youth. In this post I want to see the share price of Costco will increase as demand increases with the current corona virus outbreak. The chart doesn't look great in the short-medium term with a double top and a strong horizontal resistance formed, however long term this would be a great entry point.
Costco pack!In 4/17/2020 5$ calls, .04$ basis.
In 10/16/2020 5$ calls, .1$ basis.
In 10/16/2020 7.5$ calls, .037$ basis.
Let 'er rip!
COST long opportunityCOST being accumulated over past 6 months. What may have looked like a failed breakout turned out to be a buying opportunity. Bullish setup here.
COST Looks Ready For a 5%-10% RunCOST seems to be about to break past resistance at 307.50 and make a run to $320-$330. Jan 1st $310 calls are only about $1. I think they will get up to $5-$10 by expiration.
COST Regression analysisPresence of a rising wedge, broadening ascending wedge, Costco has been on a massive bull run. Rounded top also present which may be indicative of a bearish move, but with the strong rising channel and regression trend of 0.92 (strong regression trend according to Pearson's R value) the chart appears definitely more bullish rather than bearish.
$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
$COST Looks Poised to Move Higher@Costco - rising trend channel support, ascending triangle support, already broke out & retested 161.8 Fib. I am still targeting $338. $COST
On a side note, still impossible for me to find parking at my Costco. Always packed.
COSTCO 1D ASCENDING TRIANGLE LONG TRADEAscending Triangles, Triangles, Descending Triangle and Ranges are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
COST headed up from channel bottomCOST will likely reach $315-$320 within the next two weeks. I believe this is the bottom before a swift run up to $312.5+ within the next 13 days. If you want to maximize profit from this move, I recommend buying the $310 calls expiring November 1st for around $0.50. (where they are right now)
Cost Long I may keep it for 307 Buying underlying security or Bull strategies for at least 6 month contracts
Costco Due For A Drop to $279Costco has hit a 4H level and is building up momentum to the downside. I will be getting out of the trade on an OPEN and CLOSE of a candle above the pink line on the 4H.
COST long ideaI like COSTCO COST here. I see the 200ma on the 3hr chart as a nice support. Looks to be setting up for a new move higher. It's one you can buy and hold IF history is a lesson. 8/crossed the 13 on the 3 hr chart which looks like a buy. Good volume
Costco Long - trend tunnel low pointTaking Costco to the long side. Got to know about the downgrade from Cramer's Mad Money, so thought to do technical analysis.
Cramer suggested buy at this level and technicals are supporting partially.
I prefer to see divergence in RSI but thats not there. So taking this trade by giving more weightage to fundamentals shared by analysts as Costco is least affected by Trade war of all retailers and usually in economic slowdown Costco do well good.
MACD is crossing above red
Target price is 300
Entry price is 288
Risk:Reward is 1:2
Congrats to Subscribers: Costco Up Over 26% After Alert!It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand.
MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade.
The Blue indicator line serves as a Bullish Trend setter.
If your instrument closes above the Blue line, we think about going Long (buying).
For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling).
For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ).
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