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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