Trading Costco Wholesale $COST With Integrated Risk Controls
July 27, 2023, 20:00 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for COST
- Buy COST slightly over 535.99 target n/a stop loss @ 534.44. Details
The technical summary data tells us to buy COST near 535.99, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 534.44 to protect against excessive loss in case the stock begins to move against the trade. 535.99 is the first level of support below 561.97, and by rule, any test of support is a buy signal. In this case, if support 535.99 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for COST
- Buy COST slightly over 567.40, target 575.08, Stop Loss @ 565.76 Details
If 567.40 begins to break higher, the technical summary data tells us to buy COST just slightly over 567.40, with an upside target of 575.08. The data also tells us to set a stop loss @ 565.76 in case the stock turns against the trade. 567.40 is the first level of resistance above 561.97, and by rule, any break above resistance is a buy signal. In this case, 567.40, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short COST slightly near 567.40, target 535.99, Stop Loss @ 569.04. Details
The technical summary data is suggesting a short of COST if it tests 567.40 with a downside target of 535.99. We should have a stop loss in place at 569.04 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 567.40, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for COST
- Buy COST slightly over 565.53, target 567.40, Stop Loss @ 564.21 Details
If 565.53 begins to break higher, the technical summary data tells us to buy COST just slightly over 565.53, with an upside target of 567.40. The data also tells us to set a stop loss @ 564.21 in case the stock turns against the trade. 565.53 is the first level of resistance above 561.97, and by rule, any break above resistance is a buy signal. In this case, 565.53, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short COST slightly near 565.53, target 535.99, Stop Loss @ 566.85. Details
The technical summary data is suggesting a short of COST if it tests 565.53 with a downside target of 535.99. We should have a stop loss in place at 566.85 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 565.53, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
This is a snapshot. Real Time Updates are available on our COST Page.
COST Ratings for July 27:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Neutral |
| P1 |
0 |
0 |
470.14 |
| P2 |
565.53 |
567.40 |
503.50 |
| P3 |
570.34 |
575.08 |
535.99 |
Support and Resistance Plot Chart for COST
Blue = Current Price
Red= Resistance
Green = Support
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Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Costco Wholesale (NASDAQ: COST) report below can help you, but we have more details too. The trading plans for COST, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.
Fundamental Charts for COST:
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