Costco Stock Forecast

Red day on Thursday for Costco
(Updated on Apr 18, 2024)

COST Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 0.90%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Costco stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $720.99 and $730.92. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Costco stock

Costco finds support from accumulated volume at $705.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $9.38 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 1.73%.

Our recommended stop-loss: $675.12 (-5.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (COST) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Costco Wholesale Corporation to open at $713.26, and during the day (based on 14 day Average True Range), to move between $699.45 and $723.05, which gives a possible trading interval of +/-$11.80 (+/-1.66%) up or down from last closing price. If Costco Wholesale Corporation takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $714.08 (0.40%) than the support at $705.69 (0.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Costco Wholesale Corporation stock A Buy?

Costco holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.548 Hold/Accumulate Unchanged

Predicted Opening Price for Costco Wholesale Corporation of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.