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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (Nasdaq: COST): 4H Chart, 19 October 2023

COST Stock Market Analysis: We have been moving exactly as forecasted in the last update. We have broken wave (b) top which gives us additional upside confirmation and we could be soon due a pullback in wave (ii).

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

COST Technical Indicators: Above all averages.

COST Trading Strategy: Invalidation stands at 530$, if we break south of that we could still be in higher degree wave 2.  

Analyst: Alessio Barretta

Costco Wholesale Corp., COST: 1-hour Chart 19 October 2023

Costco Wholesale Corp., Elliott Wave Technical Analysis
COST Stock Market Analysis: We are seeing a potential five wave move into wave (i) to potentially be near completion. We are starting to see divergence in wave v, which could lead to a top if we do get another high in the price chart.  

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

COST Technical Indicators: 20EMA as support.

COST Trading Strategy: Looking for longs on the pullback in wave (ii).

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