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COSTCO -- Technical Analysis - Aug 8th' 2017

Posted by admin on

August 7, 2017

This article was written on Aug 8th’ 2017

Costco (COST) stock initially had a big fall on June 16th, 2017 on the news that Amazon is entering into competition (after the announcement that they will be buying Whole Food market chain). While Walmart (WMT) also had a fall on the same day, it has fully recovered from that fall and is at 52-week high. This tells that COST RS is weak when compared to Walmart.

Let’s see what the charts are telling about COST



SHORT term trend – NEGATIVE

MEDIUM term trend – NEUTRAL to slightly positive

LONG term trend – POSITIVE


Bullish Scenario — If the stock can clear 163 convincingly (not fake), then it can reach 175 in 3-5 weeks. Medium term trend, may turn positive then depending on price action.


Bearish Scenario –If 150 is taken out by bears, then there may be technical selling kicking in. The medium trend of the stock will turn negative then. Expect targets of around 140 & 135 once it breaks 150. The technical picture should be analyzed when 150 is taken out by bears.


Conclusion: Clearly, the RS of stock compared to WMT is not good. I would be a buyer of this stock only above 163. Since long term trend is intact, I would not worry that much for long term investors. But please note, long term trend changes gradually, after short term & medium trend changes. So, due respect should be given to short & medium-term trends and make decisions accordingly.

Bulls must defend 150 very well, to prevent further damage to this stock. The Bullish or Bearish scenario may play out in next 3-5 weeks or less IMO.


Thanks & God Bless,


(Disclaimer : )


Update 11-22-2018 : As mentioned above, bulls defended 150 aggressively during end of Aug 2017. This stock touched 245 in Sep 2018. 150 was very very low risk entry or above 163. 100 percent accuracy

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