Costco Wholesale Corp Stock Forecast
Costco Wholesale Corp stock price up 0.96% on Wednesday
(Updated on May 01, 2024)
The Costco Wholesale Corp stock price gained 0.96% on the last trading day (Wednesday, 1st May 2024), rising from £83.20 to £84.00. During the last trading day the stock fluctuated 2.42% from a day low at £82.60 to a day high of £84.60. The price has been going up and down for this period, and there has been a 11.11% gain for the last 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 328 thousand shares were bought and sold for approximately £27.57 million. 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 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 £84.54 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 24.44% during the next 3 months and, with a 90% probability hold a price between £89.71 and £105.21 at the end of this 3-month period.
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COST.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen 0%. 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). The Costco Wholesale Corp 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 £83.09 and £74.89. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Costco Wholesale Corp stock
Costco Wholesale Corp finds support from accumulated volume at £83.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 £2.00 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 3.74%.
Our recommended stop-loss: £81.31 (-3.20%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (COST.L) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Costco Wholesale Corp to open at £83.73, and during the day (based on 14 day Average True Range), to move between £80.89 and £87.11, which gives a possible trading interval of +/-£3.11 (+/-3.71%) up or down from last closing price. If Costco Wholesale Corp takes out the full calculated possible swing range there will be an estimated 7.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £83.20, some £0.800 (0.95%) from the current price of £84.00, our system finds the risk reward attractive.
Is Costco Wholesale Corp 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 Corp stock to perform well in the short-term.
Current score: 2.384 Buy Candidate Unchanged
Predicted Opening Price for Costco Wholesale Corp of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| £83.73 ( 0.317%) | £84.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COST.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.73 | 2.06 % | |
| R2 | 84.97 | 1.15 % | ||
| R1 | 84.50 | 0.592 % | ||
| Current price: | 84.00 | |||
| Support | S1 | 82.97 | -1.23 % | |
| S2 | 82.50 | -1.79 % | ||
| S3 | 81.73 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 84.00 | |||
| Support | S1 | 83.20 | -0.95% | |
| S2 | 75.00 | -10.71% | ||
| S3 | 66.00 | -21.43% |
COST Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | Apr 18, 2024 | May 28, 2024 | £0.80 | 0.95% |
| 2 | Aug 21, 2019 | Sep 12, 2019 | Oct 18, 2019 | £3.58 | 2.16% |
| 3 | Mar 06, 2019 | Apr 11, 2019 | May 17, 2019 | £9.41 | 3.03% |
| 4 | Aug 22, 2018 | Sep 13, 2018 | Oct 19, 2018 | £4.85 | 1.37% |
| 5 | Mar 01, 2018 | Apr 12, 2018 | May 18, 2018 | £8.71 | 1.97% |
FAQ
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