USA A1 Trading Advice (B) | 05-Jun-2024 | Expected Gain 5%-6%

 BUY   Costco Wholesale Corporation (NASDAQ: COST)

Costco Wholesale Corporation (NASDAQ: COST) STOCK RECOMMENDATION

Idea BUY
Buy Range 815 – 820
Target 860 – 867
StopLoss* below 800
Duration 14-15 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 815 – 820 860 – 867 below 800 14-15 Trading Days 5% – 6%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

Costco Wholesale Corporation (NASDAQ: COST) STOCK OVERVIEW

Costco Wholesale Corporation operates membership warehouses in various countries including the United States, Canada, Mexico, Japan, and several others. They provide a wide range of products, from groceries and electronics to furniture and jewelry. In addition to their physical locations, Costco also offers online services such as business delivery and travel bookings. Founded in 1976, the company is headquartered in Issaquah, Washington.

Stock Data
NASDAQ Symbol COST
Sectoral Index Consumer Discretionary
52 Weeks High 827.91
52 Weeks Low 510.57

Costco Wholesale Corporation (NASDAQ: COST) - RELATIVE STRENGTH

COST-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Costco Wholesale Corporation —     NASDAQ —

Costco Wholesale Corporation (NASDAQ: COST) - DAILY TECHNICAL ANALYSIS

Costco Wholesale Corporation (NASDAQ: COST) - Technical Analysis (Daily)
  • The price is experiencing a robust upward trend.
  • Following a peak around the 786 level, the price underwent a significant correction and found support near the 700 level.
  • Subsequently, the price resumed its upward movement and formed a Rounding Bottom pattern.
  • After the breakout, the price is presently trading at its highest level ever recorded and is anticipated to continue ascending.

Costco Wholesale Corporation (NASDAQ: COST) - RSI

COST-RSI
Costco Wholesale Corporation (NASDAQ: COST) - RSI
  • Current RSI of this stock is 73.20, which indicates the strength of buyers.

Costco Wholesale Corporation (NASDAQ: COST) - EMA CROSS

Costco Wholesale Corporation (NASDAQ: COST) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last dayโ€™s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Costco Wholesale Corporation (NASDAQ: COST) - ADX & DI

COST-ADX & DI
Costco Wholesale Corporation (NASDAQ: COST) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Costco Wholesale Corporation (NASDAQ: COST) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Costco Wholesale Corporation stock price target will be USD 860 – USD 867 in the next 14-15 trading sessions.

Costco Wholesale Corporation (NASDAQ: COST) TRADINGVIEW POSITION UPDATE

MONEY MANAGEMENT AND TRADING RULES

1)ย  Itโ€™s advisable to enter/exit in the recommended range.
2)ย  Strictly follow the StopLoss as mentioned. Honour it.
3) ย Use trailing StopLoss to retain profits.
4)ย  Diversify trading capital into our other trading recommendations.
5)ย  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance ofย Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as aย Certified Financial Technician (CFTe)ย by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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