Last time we looked at Costco (COST) was 6 months ago (January 21) when we gave the most optimal buy signal exactly at the bottom of the Channel Up at the time, easily hitting our $1045 Target:
Since then, the stock has entered a new Accumulation Phase in the form of a Triangle and this week broke below its 1W MA50 (blue trend-line), which is where its previous bottom (Higher Low) was formed.
The last similar Triangle pattern was formed straight after the May 16 2022 market bottom and once it broke upwards it led to a massive rally. Even the 1W RSI sequences between the two fractals are similar.
Our Target is $1250, just below the 1.786 Fibonacci extension.
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Since then, the stock has entered a new Accumulation Phase in the form of a Triangle and this week broke below its 1W MA50 (blue trend-line), which is where its previous bottom (Higher Low) was formed.
The last similar Triangle pattern was formed straight after the May 16 2022 market bottom and once it broke upwards it led to a massive rally. Even the 1W RSI sequences between the two fractals are similar.
Our Target is $1250, just below the 1.786 Fibonacci extension.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
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💰Free Channel t.me/tradingshotglobal
🤵Contact [email protected] t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact [email protected] t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact [email protected] t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.