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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