Shares of Costco Wholesale Corp are on the watch for a major technical chart breakdown.
Shares of Costco Wholesale Corp (COST) are on the watch for a major technical chart breakdown. The stock has been hammering on the up-trend support line since August 2019. Based on calculations, it will likely break lower in the coming weeks.
The Trade: Watch for the first daily close below the trend line shown in the chart below. When this happens, short Costco Wholesale buy puts at least 2 months out (expiration). First target will be $283, second target is $264.00.
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