Costco Wholesale Corporation (COST): Trading Secrets for Today’s Investors

Costco Wholesale Corporation (NASDAQ:COST) gained 1.13% in yesterday’s session, going up from its prior closing price of $165.21 to $167.07, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 7 of the last 10 days and has generated 3.46% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 2.26 million more shares exchanged hands compared with prior day. In total, 4.17 M shares exchanged hands for about $697.47 million.

Inside COST’s Recent Trend

Costco Wholesale Corporation (COST) lies in the middle of a weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 7.95% over the course of a quarter and, with 90% chance the price will be floating in the range of $169.49 and $183.61 in this timeframe.

Costco Wholesale Corporation Technical Signals

COST has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $165.12 and $160.00. A break down through these support points will trigger sell signals. Its pivot point low generated buy signal on Monday September 18, 2017, which calls for additional surge until the stock forms a new pivot point high. There was increase in both volume and price. This is usually interpreted as a good sign as traders widely believe rising stock should see increasing volume.

Costco Wholesale Corporation (NASDAQ:COST) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $154.11 and $151.33. It seems to be blessed by the accumulated volume as it meets no resistance above current level and favorable trading conditions will help the stock to show strong performance in the coming days.

It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Costco Wholesale Corporation approaches the first support point just current price at $154.11. In case of a break, the next support we will see from accumulated volume is going to be at $151.33 and $151.00.

Costco Wholesale Corporation (COST) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.87 (1.13%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.07%.


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