Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States & globally 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 comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.
In weekly, COST is bullish nested impulse sequence & expect rally against May-2022 low, while dips remain above $844.06 low. It is close to break above February-2025 high of $1080. Once it breaks above that level, buyers should buy the pullback for targeting $1515 or higher.
COST – Elliott Wave Latest Weekly View:
It ended ((I)) in weekly at $612.27 high in April-2022 & ((II)) at $406.51 in May-2022. Above there, it ended (I) of ((III)) at $1078.23 high in February-2025 high & (II) at $844.06 low. Within (I), it placed I at $564.75 high, II at $447.90 low, III at $1008.25 high, IV at $902 low & V at $1078.23 high as (I). Within III, it ended ((1)) at 530.05 high, ((2)) at $465.33 low, ((3)) at $923.83 high, ((4)) at $867.16 low & ((5)) at $1008.25 high. The (I) was having extended III wave, which indicates the strength of the trend. In (II) pullback, it ended w at $871.71 low, x at $1067.08 high & y at $844.06 low in blue box area.
COST – Elliott Wave View From 1.26.2026:
Above (II) low, it favors rally in I of (III), which confirms above 2.10.2025 high. Above $844.06 low, it ended ((1)) of I at $1028.44 & ((2)) as flat correction at $966 low. It placed (A) of ((2)) at $960.46 low, (B) at $1035.82 high & (C) at $966 low. It already broke above ((1)) high, favoring upside in (1) of ((3)). It expects two or more highs within 4.13.2026 rally to extend (1) before correcting next. The ((3)) can extend into $1149.3 – 1262.4 area before correcting in ((4)). Once it breaks above February-2025 high, we like to buy the pullback in 3, 7 or 11 swings at extremes. If it fail to break above February-2025 high, it can remain choppy or do larger correction in (II) if breaks below Dec-2025 low.
Source: https://elliottwave-forecast.com/stock-market/cost-looking-break-for-targeting-1515/