The goal of studying a market is simple: To put yourself “in a good investment, or in a good trade.”
That’s how Robert Kelley, instructor at Elliott Wave International’s Trader’s Classroom, puts it in this new video about the stock of the U.S. “big-box store” leader, Costco Wholesale (COST), that you’re about to enjoy.
Since 2009, COST has gone up in almost a straight line. That certainly fits the definition of a “good investment.” In the video, Robert explains the Elliott wave pattern that propelled COST to where it is today, shows what Elliott waves suggest for COST next — and even pauses to give you a chance to label the price pattern on your own (and then shows you his wave count).
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Who is Elliott Wave International?
EWI is the world’s largest independent technical analysis firm. Founded by Robert Prechter in 1979, EWI helps investors and traders to catch market opportunities and avoid potential pitfalls before others even see them coming. Their unique perspective and high-quality analysis have been their calling card for nearly 40 years, featured in financial news outlets such as Fox Business, CNBC, Reuters, MarketWatch and Bloomberg.