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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (Nasdaq: COST): 4h Chart 11 December 2023

COST Stock Market Analysis: We have been monitoring the upside in Costco as we seemed to have a group of waves 1-2 nesting. We are now looking at a count that suggests Minute wave {ii} is in place and we are now waiting for a pullback in wave (ii) to then look for longs.  

COST Elliott Wave Count: Wave (i) of {iii}.

COST Technical Indicators: Above all averages.

COST Trading Strategy: Looking for longs after a pullback in wave (ii).  

Analyst: Alessio Barretta

Costco Wholesale Corp., COST: 1-hour Chart 11 December 2023

Costco Wholesale Corp., Elliott Wave Technical Analysis COST Stock Market Analysis: Looking for a potential top already in wave (i), if not we could be close. After that we could see further downside into wave (ii) to then find support on 600$.  

COST Elliott Wave count:  Wave v of (i).

COST Technical Indicators: Above all averages.

COST Trading Strategy: Looking for longs after a pullback in wave (ii).

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