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USA A1 Trading Advice (C) | 28-Aug-2024 | Expected Gain 5%-6%

SHORT TERM TRADING ADVICE IN USA

 BUY   Costco Wholesale Corporation (NASDAQ: COST)

Costco Wholesale Corporation (NASDAQ: COST) - STOCK RECOMMENDATION

Idea BUY
Buy Range 895 – 905
Target 950 – 955
StopLoss* below 880
Duration 12-14 Trading Days
Potential Returns 5% – 6%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 895 – 905 950 – 955 below 880 12-14 Trading Days 5% – 6%

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

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 919
52 Weeks Low 533

Costco Wholesale Corporation (NASDAQ: COST) - RELATIVE STRENGTH

COST-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Costco Wholesale Corporation —     NASDAQ —

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

COST-DAILY TECHNICAL ANALYSIS
Costco Wholesale Corporation (NASDAQ: COST) - Technical Analysis (Daily)
  • The stock is experiencing a robust upward trend, consistently achieving higher highs and higher lows.
  • The chart shows that after a substantial upward movement, the price stabilized and created a Rounding Bottom pattern. After breaking out, the price is following a similar path as before.
  • With a new breakout in play, the stock is currently trading at an all-time high, with expectations for even further gains ahead.

Costco Wholesale Corporation (NASDAQ: COST) - RSI

Costco Wholesale Corporation (NASDAQ: COST) - RSI
  • Current RSI of this stock is 71.90, which indicates the strength of buyers.

Costco Wholesale Corporation (NASDAQ: COST) - EMA Cross

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 day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Costco Wholesale Corporation (NASDAQ: COST) - MACD

COST-MACD
Costco Wholesale Corporation (NASDAQ: COST) - MACD
  • MACD line has just crossed the signal line from the below, generates bullish signal.

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

Based on our swing stock trading advice in USA, Costco Wholesale Corporation share price target will be 950 – 955 in the next 12-14 trading sessions.

Costco Wholesale Corporation (NASDAQ: COST) - TRADINGVIEW POSITION UPDATE

Buy Costco Wholesale Corporation by NaranjCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  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 of 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 a Certified Financial Technician (CFTe) 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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