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Costco Wholesale Corporation Stock Forecast NASDAQ:COST

$546.13 (-0.65%)

Volume: 2M

Closed: Nov 26, 2021

Hollow Logo Score: 2.866

Costco Wholesale Corporation Stock Forecast

$546.13 (-0.65%)

Volume: 2M

Closed: Nov 26, 2021

Score Hollow Logo 2.866
Which way will COST go? Request
Fri, Nov 26, 2021 Buy Candidate Upgraded
Stop-loss: $525.66 (-3.75%)
Earnings Date: Dec 09, 2021
Key Stats
P/E Ratio 48.19
Beta 0.69
Trailing Dividend Rate 0.56% ($3.06)
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 80 ] RSI14 is 75 and the stock is currently not being overbought or oversold

Costco Wholesale Corporation stock upgraded to Buy Candidate.
(Updated on Nov 26, 2021)


Buy or Hold candidate since 2021-10-18 Gain 18.22%

The Costco Wholesale Corporation stock price fell by -0.65% on the last day (Friday, 26th Nov 2021) from $549.73 to $546.13. During the day the stock fluctuated 1.88% from a day low at $544.31 to a day high of $554.55. The price has risen in 8 of the last 10 days and is up by 6.63% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -526 thousand shares and in total, 2 million shares were bought and sold for approximately $975.33 million.

The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $551.13 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 19.01% during the next 3 months and, with a 90% probability hold a price between $581.51 and $655.90 at the end of this 3-month period.

Signals & Forecast

The Costco Wholesale Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $538.60 and $496.74. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, November 24, 2021, and so far it has fallen -0.65%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $503.81 and $467.75. There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Costco Wholesale Corporation finds support just below today's level at $503.81. If this is broken, then the next support from accumulated volume will be at $467.75 and $459.51.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $10.24 between high and low, or 1.88%. For the last week, the stock has had a daily average volatility of 1.87%.

Our recommended stop-loss: $525.66 (-3.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 days ago.)

Is Costco Wholesale Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Costco Wholesale Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.866

Predicted Opening Price for Costco Wholesale Corporation of Monday, November 29, 2021

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

Fair opening price November 29, 2021 Current price
$548.33 $546.13 (Undervalued)
Buy Candidate Upgraded

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Analyst Ratings

On Nov 11, 2021 "Gordon Haskett" gave "$525.00 - $575.00" rating for COST. The price target was set to $510.50+1.0%.

Volatility and Risk
Daily Average Volatility: 1.87 %
Overall Risk: Very High High Medium Low Very Low
Volatility
1.87 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $549.73
Price: $546.13
Support: $503.81

COST Insider Trading Show all Trades

INSIDER POWER

1.535

Last 100 transactions
Buy: 204 936 | Sell: 133 538 (Shares)
Date Action Amount Person Type
Oct 22, 2021 Buy 561 Libenson Richard M Common Stock
Oct 22, 2021 Sell 2 152 Rubananko Yoram Common Stock
Oct 22, 2021 Sell 139 Rubananko Yoram Common Stock
Oct 22, 2021 Sell 129 Rubananko Yoram Common Stock
Oct 22, 2021 Sell 141 Rubananko Yoram Common Stock
Show all Insider Trades
INSIDER POWER

1.535

Last 100 transactions
Buy: 204 936 | Sell: 133 538 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 558.57 2.28 %
554.66 1.56 %
552.24 1.12 %
Current price: 546.13
Support 544.42 -0.31 %
542.00 -0.76 %
538.09 -1.47 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0 .
0 .
549.73 0.66 %
Current price 546.13
Support 503.81 -7.75%
467.75 -14.35%
459.51 -15.86%

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About Costco Wholesale Corporation

Costco Wholesale Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. The company offers branded and private-label products in a range of merchandise categories. It provides dry and institutionally packaged foods; snack foods, candy, tobacco, alcoholic and nonalcoholic beverages, and cleaning and institutional supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio; meat, bakery, deli, and... Read more

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