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 react higher as expected from previous article, favoring upside in 3 of (3) of ((3)). Currently, it favors upside in ((v)) impulse to finish 3 soon before correcting in wave 4 against late October-2023 low.
COST – Elliott Wave View From 12.25.2023:
In weekly sequence, it placed ((II)) at $406.51 low & favors upside in (3) of ((3)) of I & remain supported in 3, 7 or 11 swings pullback in correction. Above ((II)) low, it placed ((1)) of I at $564.75 high & ((2)) at $447.90 low. It placed (2) of ((3)) at $465.33 low & favors upside in (3). Within (3), it ended 1 at $576.19 high as 5 swing sequence & 2 at $540.23 low as shallow correction. Above there, it favors upside in 3 of (3), in which it placed ((i)) at $599.89 high & ((ii)) at $572.24 low. It extended higher in ((iii)) of 3, ended at $681.91 high & ((iv)) at $640.51 low.
COST – Elliott Wave Latest Daily View:
Above ((iv)) low, it favors upside in ((v)) to finish 3 of (3) towards $719.7 or higher levels. Later, it expects pullback in 4 in 3, 7 or 11 swings, which remain supported at extreme areas before it resumes higher in 5. We like to buy the dips at extreme areas in correction for next rally.
COST – Elliott Wave Latest Weekly View:
Source: https://elliottwave-forecast.com/stock-market/will-cost-provide-any-short-term-trading-opportunity/