By
Peter Mathers
of
Trading Lounge
Thursday, November 3, 2022 8:48 AM EDT
Costco Wholesale Corp., Elliott Wave Technical Analysis
Costco Wholesale Corp., (COST): Daily Chart, November 3 2022,
COST Stock Market Analysis: Moving lower as predicted in the last forecast. We will have to find out whether we are already into an impulsive move such as in wave 3 or else we are still correcting wave 2.
COST Elliott Wave Count: Wave {b} of 2.
COST Technical Indicators: Reacted from the 200EMA.
COST Trading Strategy: Waiting for an upside move if we will eventually develop into a wave{c} or else if we break the green line we can start looking for shorts.
TradingLounge Analyst: Alessio Barretta
Costco Wholesale Corp., COST: 4-hour Chart, November 3 2022
Costco Wholesale Corp., Elliott Wave Technical Analysis
COST Stock Market Analysis: It is pretty clear that the move up in wave {a} was a three wave move as shown.
COST Elliott Wave count: Wave (c) of {b}.
COST Technical Indicators: Below all EMAs.
COST Trading Strategy: Waiting for further developments, we will most likely get some kind of support within the area of wave ii of (c).
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical ...
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Disclosure: As with any trading or investment opportunity there is a risk of making losses especially in day trading or investments that Trading Lounge expresses opinions on. Note: Historical trading results are no guarantee of future returns. Some investments are inherently more risky than others. At worst, you could lose your entire investment and more TradingLounge™ uses a range of technical analysis tools, such as Elliott Wave, software and basic fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide, tradinglounge takes no responsibility whatsoever for your trading profits or losses. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice in light of your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in Indices Stocks shares Forex CFDs Options Spread Betting derivatives of any kind / products is appropriate for you in light of your financial trading circumstances.
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