Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China & Taiwan together with its subsidiaries. It offers branded & private label products in the range of merchandise categories. It also operates e-commerce websites in the US, Canada, UK & many other countries. It is based in Issaquah, Washington, comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.

As shown from the previous article, COST expected further upside in ((iii)) of 3 of (3) of ((1)). It needs to breaks above ((I)) high of $ 612.27 to confirm the bullish sequence.

COST - Elliott Wave View From 6.18.2023:

It finished (I) at $393.15 high in November-2020 & corrected in (II) at $307 low in March-2021. It continued higher in (III) ended at $571.49 high in December-2021. It corrected in (IV) at $469.01 low as 0.382 Fibonacci retracement. Finally, it ended (V) at $612.27 high as ((I)) in April-2022 high as bullish impulse sequence since 1986 low. It corrected lower in ((II)) which, ended at $406.51.

COST - Elliott Wave Latest Daily View: 

Above ((II)) low, it placed (1) at $564.75 high & (2) at $447.90 low as zigzag correction. It placed 2 of (3) at $465.33 low & favors higher in ((v)) of 3, while placed ((iv)) at $530.56 low. It expects short term upside in ((v)) to finish 3 of (3) before correcting in 4 in 3 or 7 swings, which should remain above $520.64 low. It expects (3) of ((1)) to end towards $606.49 or higher levels. Further upside in ((III)) will confirm above $612.27 high. Alternatively, it can see 3 swing bounce since $406.51 low as (x) connector & fail below ((I)) high to turn lower in (Y) of ((II)) correction.

COST - Elliott Wave Latest Weekly View: 

Source: https://elliottwave-forecast.com/stock-market/will-cost-continue-see-further-strength/