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Costco Wholesale Corp., Elliott Wave Technical Analysis

Costco Wholesale Corp., (Nasdaq: COST): 4h Chart 10 January 2024

COST Stock Market Analysis: We have been monitoring the upside into wave 3 ever since the pullback in Minor wave 2. Looking for additional upside into wave {v} of 3 as we have an incomplete five wave sequence. 1.618 of 3 vs. 1 stands at 724$.  

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

COST Technical Indicators: 20EMA as support.  

COST Trading Strategy: Looking for a break of wave (b) to then looking for longs.  

Analyst: Alessio Barretta

Costco Wholesale Corp.,, COST: 1-hour Chart 10 January 2024

Costco Wholesale Corp., Elliott Wave Technical Analysis COST Stock Market Analysis: We seem to be having a wave (i) and (ii) in place as we found support of 650$. This up move could also be scaled down one degree, and could become i and ii.  

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

COST Technical Indicators: Above all averages.

COST Trading Strategy: Looking for a break of wave (b) to then looking for longs.

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