Elliott Wave Technical Analysis: Costco Wholesale Corp. - Tuesday, Nov. 15

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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (Nasdaq: COST): Daily Chart, November 15, 2022, 

COST Stock Market Analysis: It has moved exactly as predicted from the previous forecast by moving higher into wave {c} of 2. At this point, we could be close to the end of wave 2 and looking to resume lower.

COST Elliott Wave Count: Wave {c} of 2.

COST Technical Indicators: Just above the 200EMA.

COST Trading Strategy: Waiting for a break of the confirmation line at 474$ before considering shorts.

Analyst: Alessio Barretta

Costco Wholesale Corp., COST: 4-hour Chart, November 15, 2022

Costco Wholesale Corp., Elliott Wave Technical Analysis

COST Stock Market Analysis: There’s a chance as you can see in the chart that we have five waves up into wave {c} already. Alternatively, we could have just finished wave (iii) and be looking for one last move higher into wave (v).

COST Elliott Wave count: Wave (v) of {c}.

COST Technical Indicators: Above all EMAs, rejecting 0.618 wave {c} vs. {a}.

COST Trading Strategy: Waiting for a break of the confirmation line at 474$ before considering shorts.


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