COST Elliott Wave Technical Analysis
Function: Trend.
Mode: Impulsive.
Structure: Motor.
Position: Wave 5.
Address: Up in wave 5.
Details: Looking for an upward continuation in wave 5, with the next TradingLevel at $1000.
COST Elliott Wave Technical Analysis – Daily Chart
COST is in the final stages of its wave 5, which indicates that the trend is close to its culmination. The next significant resistance is expected to be around the TradingLevel of $1000, which can act as a target for this wave. Traders should watch for signs of exhaustion as the price approaches this level, as wave 5 typically marks the end of an impulsive trend before a larger corrective phase begins.
COST Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motor
Position: Wave {ii} of 5.
Address: Background in the wave {ii}.
Details:Looking for a downward continuation within wave {ii} as it appears we have a potential three-wave move in the works and looking for MG2 at $800 to hold as support.
COST Elliott Wave Technical Analysis – One Hour Chart
The 1-hour chart indicates that COST is currently in wave {ii} of 5, a corrective phase that could see prices move lower before resuming the uptrend. There is a potential three-wave corrective pattern developing, with MG2 (Minor Group 2) around the $800 level acting as a critical support zone. If this level holds, it could mark the completion of wave {ii} and set the stage for the next impulsive move higher in wave {iii} of 5.
This analysis for Costco Wholesale Corp. (COST), outlines the current Elliott Wave structure and possible price movements on both the daily and 1-hour charts. The focus is on identifying the wave position and key levels that could guide trading decisions.
Costco Wholesale Corp. (COST) Elliott Wave Technical Analysis [Video]
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
