Costco Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of COST
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Green day on Monday for Costco
(Updated on Oct 14, 2024)
Sell candidate since Oct 11, 2024
Gain 0.08%
The Costco stock price gained 0.0821% on the last trading day (Monday, 14th Oct 2024), rising from $889.03 to $889.76. During the last trading day the stock fluctuated 1.01% from a day low at $886.26 to a day high of $895.17. The price has been going up and down for this period, and there has been a 0.37% gain for the last 2 weeks. Volume fell on the last day by -154 thousand shares and in total, 1 million shares were bought and sold for approximately $1.10 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.53% during the next 3 months and, with a 90% probability hold a price between $946.49 and $1,025.34 at the end of this 3-month period.
COST Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $889.81 and $893.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, September 23, 2024, and so far it has fallen -2.98%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Costco stock
Costco finds support from accumulated volume at $885.62 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 $8.91 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COST) For The Upcoming Trading Day Of Tuesday 15th
For the upcoming trading day on Tuesday, 15th we expect Costco Wholesale Corporation to open at $890.40, and during the day (based on 14 day Average True Range), to move between $874.18 and $905.34, which gives a possible trading interval of +/-$15.58 (+/-1.75%) up or down from last closing price. If Costco Wholesale Corporation takes out the full calculated possible swing range there will be an estimated 3.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $885.62 (0.47%) than the resistance at $901.44 (1.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Costco Wholesale Corporation stock A Buy?
The Costco stock holds several negative signals and despite the positive trend, we believe Costco will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score:
-3.490
Sell Candidate
Unchanged
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Predicted Fair Opening Price
Predicted fair opening price on October 15, 2024 - $890.40 ( 0.0716%). The predicted opening price is based on yesterday's movements between high, low, and closing price.Trading levels for COST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 899.31 | 1.07% |
| R2 | 895.90 | 0.691% |
| R1 | 893.80 | 0.454% |
| Price | 889.76 | |
| S1 | 886.99 | -0.311% |
| S2 | 884.89 | -0.547% |
| S3 | 881.49 | -0.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 906.98 | 1.94% |
| R2 | 901.54 | 1.32% |
| R1 | 901.44 | 1.31% |
| Price | 889.76 | |
| S1 | 885.62 | -0.465% |
| S2 | 830.82 | -6.62% |
| S3 | 801.83 | -9.88% |
COST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 10, 2024 | Jul 26, 2024 | Aug 09, 2024 | $1.16 | 0.136% |
| 2 | Apr 25, 2024 | Apr 25, 2024 | May 10, 2024 | $1.16 | 0.147% |
| 3 | Jan 18, 2024 | Feb 01, 2024 | Feb 16, 2024 | $1.02 | 0.141% |
| 4 | Dec 14, 2023 | Dec 27, 2023 | Jan 12, 2024 | $4.08 | 0.597% |
| 5 | Oct 18, 2023 | Nov 02, 2023 | Nov 17, 2023 | $1.02 | 0.177% |
FAQ
Click here for our free guide on how to buy Costco Stock.
