Trading idea for Costco Wholesale Corp. (NASDAQ)
Costco Wholesale Corp. (NASDAQ)
#COST
The trend is downward. The stock is trading within the range of the 365 and 135 EMA. The ascending wave structure is truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates overbought conditions.
Trading idea:
Sell upon the formation of a descending wave structure, where wave (A) breaks through the trendline of the ascending truncated formation.
Stop Loss – 947.00
Target levels – 918.60; 905.00
