BullBear Trading: Stock and Financial Market Technical Analysis

Today, leading wholesale warehouse retailer Costco Wholesale Corp (NASDAQ:COST) is declining by $4.06 to $163.03 a share. The retail giant's stock price has been coming under pressure since early May when the shares traded as high as $183.18. Currently, COST stock is sitting right on its 200-day moving average so there is some near term daily chart support.

Unfortunately, the better and stronger institutional support level for COST stock price will be around the $157.00 area. This is a spot on the chart that has a gap window from December 8th, 2016. Often, this level will be defended when retested. This level presents a very solid risk/reward long (buy) side opportunity in the stock.

Nicholas Santiago


Views: 34

Reply to This

Join BullBear Traders

Free 30 Day Trial
No Credit Card Required


Steven Vincent's market analysis is published on:

Steven Vincent's opinion is polled every week for the Birinyi Associates
TickerSense Blogger Sentiment Poll

© 2018   Created by Steven Vincent.   Powered by

Badges  |  Report an Issue  |  Terms of Service