Costco Wholesale Corporation Stock Forecast
Green day on Friday for Costco Wholesale Corporation
(Updated on May 03, 2024)
The Costco Wholesale Corporation stock price gained 0.662% on the last trading day (Friday, 3rd May 2024), rising from 679.90€ to 684.40€. During the last trading day the stock fluctuated 1.12% from a day low at 678.90€ to a day high of 686.50€. The price has risen in 6 of the last 10 days and is up by 1.95% over the past 2 weeks. Volume fell on the last day by -115 shares and in total, 113 shares were bought and sold for approximately 77.34€ thousand. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Costco Wholesale Corporation stock with a 90% probability to be traded between 645.40€ and 705.16€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CTO.F 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 676.26€ and 671.79€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -0.81%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, May 09, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, May 09, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Wednesday, April 03, 2024 and based on theory for this formation the price should go up by 6.59% to 729.50€ within 15 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Costco Wholesale Corporation stock
Costco Wholesale Corporation finds support from accumulated volume at 671.60€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved 7.60€ between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.29%
Our recommended stop-loss: 659.67€ (-3.61%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CTO.F) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Costco Wholesale Corporation to open at 683.27€, and during the day (based on 14 day Average True Range), to move between 674.83€ and 693.97€, which gives a possible trading interval of +/-9.57€ (+/-1.40%) up or down from last closing price. If Costco Wholesale Corporation takes out the full calculated possible swing range there will be an estimated 2.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 692.30€ (1.15%) than the support at 671.60€ (1.87%), 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 Wholesale Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.014 Hold/Accumulate Unchanged
Predicted Opening Price for Costco Wholesale Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| 683.27€ ( 0.166%) | 684.40€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTO.F
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 690.87 | 0.94 % | |
| R2 | 687.96 | 0.521 % | ||
| R1 | 686.17 | 0.259 % | ||
| Current price: | 684.40 | |||
| Support | S1 | 680.36 | -0.590 % | |
| S2 | 678.57 | -0.85 % | ||
| S3 | 675.67 | -1.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 702.70 | 2.67 % | |
| R2 | 701.60 | 2.51 % | ||
| R1 | 692.30 | 1.15 % | ||
| Current price | 684.40 | |||
| Support | S1 | 671.60 | -1.87% | |
| S2 | 661.90 | -3.29% | ||
| S3 | 653.90 | -4.46% |
CTO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | May 10, 2024 | 1.08€ | 0% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 16, 2024 | 0.94€ | 0% |
| 3 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | 0€ | 0% |
| 4 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | 0€ | 0% |
| 5 | Aug 24, 2023 | Aug 24, 2023 | Aug 24, 2023 | 1.02€ | 0% |
FAQ
Click here for our free guide on how to buy Costco Wholesale Corporation Stock.
