Costco Wholesale (COST) Continues Upside In Bullish Sequence

Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States, Puerto Rico, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China & Taiwan 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 is based in Issaquah, Washington, comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.

COST is trading at all time high, suggesting further upside as the part of I of (I) of ((III)). It expects short term upside in 3 of (3) of ((3)) & remain supported in 3, 7 or 11 swings at extreme areas.

COST – Elliott Wave Latest Daily View: 

In Monthly sequence, it finished (I) at $393.15 high in November-2020 & corrected in (II) at $307 low in March-2021. It extended higher in (III), which ended at $571.49 high in December-2021. It corrected in (IV) at $469.01 low as 0.382 Fibonacci retracement. Finally, it ended (V) at $612.27 high as ((I)) as bullish sequence since 1986 low. It corrected lower in ((II)) which, ended at $406.51 as sharp pullback.

COST – Elliott Wave Latest Monthly View: 

Above ((II)) low, it already broke above ((I)) high, confirmed upside to be I of (I) of ((III)) sequence. It ended ((1)) of I at $564.75 high & placed ((2)) at $447.90 low. Above that, it favors upside in (3) of ((3)) of I. It ended (1) of ((3)) at $530.05 high & (2) at $465.33 low. It already broke above (1) high, ended 1 of (3) at $576.19 high & 2 as flat correction ended at $540.23 low. Currently, it favors upside in ((iii)) of 3 & expect one more push higher to finish it before pullback may start in ((iv)) of 3. It expects any pullback in 3, 7 or 11 swings towards extreme areas to find support to resume higher.

Source: https://elliottwave-forecast.com/stock-market/cost-continues-upside-bullish-sequence/