Costco Wholesale Corp. Stocks Elliott Wave Technical Analysis - Tuesday, September 3
COST Elliott Wave Analysis Trading Lounge Daily Chart,
Costco Wholesale Corp., (COST) Daily Chart
COST Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave 5.
DIRECTION: Upside in wave 5.
DETAILS: Looking for continuation higher in wave 5, with the next TradingLevel at 1000$.
(Click on image to enlarge)
COST Elliott Wave Analysis Trading Lounge 1H Chart,
Costco Wholesale Corp., (COST) 1H Chart
COST Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave {ii} of 5.
DIRECTION: Bottom in wave {ii}.
DETAILS: Looking for continuation lower within wave {ii} as we seem to have a potential three wave move in the making and looking for MG2 of 800$ to hold as support.
(Click on image to enlarge)
This analysis for Costco Wholesale Corp. (COST), outlines the current Elliott Wave structure and potential 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.
* COST Elliott Wave Technical Analysis – Daily Chart*
COST is in the final stages of its wave 5, indicating that the trend is nearing its culmination. The next significant resistance is expected around the TradingLevel of 1000$, which may act as a target for this wave. Traders should watch for signs of exhaustion as the price approaches this level, as wave 5 typically marks the end of an impulsive trend before a larger corrective phase begins.
* COST Elliott Wave Technical Analysis – 1H Chart*
The 1-hour chart indicates that COST is currently in wave {ii} of 5, a corrective phase that could see prices moving lower before resuming the uptrend. There is a potential three-wave corrective pattern unfolding, with MG2 (Minor Group 2) around the 800$ 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.
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