Costco Co. (COST)
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|It was a first positive week for the Costco Co. (COST). During the week, the COST gained 10.74 points, or 2.16%, and closed at 507.26 on Friday, May 26, 2023. Weekly volume was 30% above average. |
COST is a member of Consumer Staples Sector. Consumer Staples is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See COST long-term trend chart]
A long-term downtrend had started on April 7, 2022 at 612.27 and reached 406.51 on May 20, 2022. COST lost 205.76 points, or 33.61%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (474.60) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See COST medium-term trend chart]
A medium-term uptrend had started on January 3, 2023 at 447.90 and reached 530.05 on February 2, 2023. COST gained -82.15 points, or -18.34%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (506.18). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See COST weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 27, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See COST short-term trend chart]
A short-term downtrend had started on April 25, 2023 at 513.13 and reached 476.75 on May 25, 2023. COST lost 36.38 points, or 7.09%, in 30 days. The price is now at the 83.86% retracement level.
Daily Technical Indicators: [See COST daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 15, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 4.99% on Friday. It is 55.55% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.