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$COST Everyone loves Costco, but not at $240 & 30 P/E
Its is not uncommon for NASDAQ:COST to fall on a good earnings report and it always bounces back within a few months, longs are probably a bit apprehensive going into earnings as selling has been quite intense this week. When consulting they technicals the stock has actually been showing bearish divergences since early May, as the price climbed the RSI , MACD and CMF have all steadily dropped.
Sentiment in the market is poor, but Costco is one of those companies immune to certain economics that affect others, consumers always want good value and Costco offers that, in good and bad times. The subscription model also provides recurring guaranteed income, which investors love but at a 30 P/E ratio it getting a little expensive
The best policy is to wait and see on this, because if the breakout fails and support breaks a drop to $220 is very possible to fill that gap
6 weeks ago : Rates On PAUSE !....PPT convened !.....Possible Chinese Trade Deal !
It generated in many charts a TERRIFIC Reversal ! . . . . which put many Magnets to shame.
Well played boyz !....You know your game
COST buy option
buy 04/20/18 195 calls for 2.51
normal chart
log chart
The Chart That Told Me To Short Costco Wholesale Corp (NASDAQ:COST)
Costco Wholesale Corporation (NASDAQ:COST) was upgraded yesterday. Mind you, this came after a run in the stock from $154 to $188. For some reason, an analyst thought it was the right time to upgrade Costco after a huge run like this (I don't get it). Anyways, the stock opened higher and then sold off. The reason for the reversal was because the stock slammed into a great resistance trend line (as seen in the chart below). This triggered my short. This is a no-brainer trade in my opinion as the stock was so insanely overbought that it was a huge pullback opportunity. Add in the massive trend line and it likely is a recipe for profit.
Gareth Soloway
InTheMoneyStocks
Just a continuing example of TA :
This is how TA (and Ruler-Lines) work.
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The Great COSTCO Down-gap.....
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Costco Wholesale Corp.
999 Lake Drive
Issaquah, WA 98027
Phone: 425-313-8100
Fax: 425-313-8114
Web Site: http://www.costco.com
DETAILS
Index Membership: S&P 500
S&P 1500 Super Comp
Nasdaq 100
Sector: Services
Industry: Discount, Variety Stores
Full Time Employees: 60,500
BUSINESS SUMMARY
Costco Wholesale Corporation operates membership warehouses that offer a selection of branded and private label products in a range of merchandise categories in no-frills and self-service warehouse facilities. Its product category includes candy, snack foods, health and beauty aids, tobacco, alcoholic beverages, soft drinks, and cleaning and institutional supplies; dry and fresh foods, and institutionally packaged foods; appliances, electronics, hardware, office supplies, garden and patio, sporting goods, furniture, and automotive supplies; apparel, domestics, cameras, jewelry, house wares, media, home furnishings, and small appliances; and pharmacy, optical, one-hour photo, print shop, food court, hearing aid, and gas stations. The company offers three types of memberships: Business, Gold Star (individual), and Executive Membership. Costco operated 471 warehouses, including 346 in the United States and Puerto Rico, 66 in Canada, 17 in the United Kingdom, 5 in Korea, 4 in Taiwan, 5 in Japan, and 28 in Mexico, as of December 8, 2005. It also operates Costco Online, an electronic commerce Web site, www.costco.com. The company, formerly known as Price/Costco, Inc., was founded in 1976. It changed its name to Costco Companies, Inc. in 1997 and to Costco Wholesale Corporation in 1999. Costco is headquartered in Issaquah, Washington.
