Elliott Wave Technical Analysis: Costco Wholesale Corp. - Friday, Dec. 16

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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (Nasdaq: COST): Daily Chart, December 16, 2022, 

COST Stock Market Analysis: Costco has been moving lower as expected from the previous update and we are now looking at a continuation lower into wave {iii}. The alternative could be a triangle in wave 4 of the primary degree, to confirm the alt count we cannot break what is now labeled wave 1.

COST Elliott Wave Count: Wave {iii} of 3.

COST Technical Indicators: Below all averages.

COST Trading Strategy: Looking for short into wave {iii}.

Analyst: Alessio Barretta

Costco Wholesale Corp., COST:4-hour Chart, December 16, 2022

Costco Wholesale Corp., Elliott Wave Technical Analysis

COST Stock Market Analysis: It looks like we could be in wave (iii) of {iii} which I would expect as a rapid move to the downside as it is unfolding.

COST Elliott Wave count: Wave (iii) of {iii}.

COST Technical Indicators: Below all averages.

COST Trading Strategy: Looking for shorts on the pullback in wave (iv).


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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...

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