COST trade ideas
Buy now costMy strategy is to combine several techniques at once:
+ Price channel and trend line: help me identify the direction of the price,
+ Supply - demand: help me identify the reversal position,
+ Elliott wave: help me determine the cycle of price,
+ Candlestick pattern and price action: Help me correct the position to the order.
...
$COST looks set for a breakout$COST showed strength last Friday when market was selling off and it looks primed to break all-time high resistance of 314.28. The stock has been accumulating heavily since last earnings and has broken out of the consolidation range of 290-300 recently. Investors are looking to add to value names due to current market sentiment and stocks like COST, WMT, etc. fit the criteria especially since they are household names and have been lagging spy. I'm looking for COST to break resistance this week and possibly run to 325+ leading to ER.
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 Heading to Double topExpecting at least a double top, look at the accumulation. Looks to me like the giant bull flag is now over.
COST - Don't do this close to earnings report unless...I don't recommend taking a trade days before earnings report unless you're sure what you're doing. In this case the buyers are stopping out the sellers at the 292.50 level, you can see the previous hammer candle and the more recent gap up. Does it mean anything though especially after the report comes out?
LONG - COST
SL: 290.58 (Suggested by our algorithmic system)
TP: 303.51 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Bullish OBV divergence detected
2. Accum/dist indicator still looks positive
CAUTION: Support trendline was broken
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
$CIST - long, 1-year parallel channel trend bounceNASDAQ:COST - long for a quick $5-8 pop, good risk/reward IMHO
Double inside weekly candlesBeen patiently waiting on this one, not sure which way it goes but just follow it, big move coming
$cost oversoldOversold territory for a stock like Costco.
Another falling wedge.
Bullish divergence on RSI.
Increasing Volume.
Might see a dip to 291 first, but this will see ATH soon
Weekly inside candle on 20smaIf this breaks over last weeks high, Im thinking it can make a new ATH. 305c for Jan 17 closed around 1.20, will try those. Puts under trendline.
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.
