Costco Stock Chart Analysis: Big Breakdown Nears

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Jan 11, 2021 at 2:43 PM EST

Shares of Costco Wholesale Corp are hammering on two major trend lines of support. Based on the Costco stock chart analysis, a breakdown through these levels is becoming more likely.

Shares of Costco Wholesale Corp (COST) are hammering on two major trend lines of support. Based on the Costco stock chart analysis, a breakdown through these levels is becoming more likely. Should the price close any day below $364.50, a breakdown will have started. Price will likely be smoked to as low as $306.00 over the coming months.

As a technical trade, investors who are long can remain long as long as that close below $364.50 does not happen. If it does happen, Costco becomes a strong short sell until the target is reached.

Costco Stock Chart Analysis with the key pivot points and trend lines shown below…

(Click on image to enlarge)

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