The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Costco Co. (COST) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :
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It was a first positive week for the Costco Co. (COST). During the week, the COST climbed 0.07 points, or 0.01%, and closed at 725.63 on Friday, March 15, 2024. Weekly volume was 59% above average.

Long-term trend: [See COST long-term trend chart]
A long-term uptrend had started on May 20, 2022 at 406.51 and reached 787.08 on March 7, 2024. COST gained -380.57 points, or -93.62%, in 93 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (539.27) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See COST medium-term trend chart]
A medium-term uptrend had started on January 3, 2023 at 447.90 and reached 787.08 on March 7, 2024. COST gained -339.18 points, or -75.73%, in 61 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (561.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See COST weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See COST short-term trend chart]
A short-term uptrend had started on August 25, 2023 at 530.56 and reached 787.08 on March 7, 2024. COST gained -256.52 points, or -48.35%, in 195 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 564.22 and resistance is at 803.85. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See COST daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 7, 2024. The distance between MACD and the signal line is relatively high and getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.65
Williams' Percentage Range (W%R) 71.70
Lane's Stochastic (%D-Slow) 23.06
Greed/Fear Indicator (GFI) 31.66
Moving Average Converg./Diverg. (MACD) 10.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.35
Williams' Percentage Range (W%R) 22.10
Lane's Stochastic (%D-Slow) 85.36
Overbought
Greed/Fear Indicator (GFI) 72.97
Moving Average Converg./Diverg. (MACD) 42.35
Trading Signals
Description Value Chart
Weekly Trendline Resistance 803.85
Upper Bollinger Band 770.18
Weekly Stochastic Crossing 768.36
Parabolic System 753.41
20 Day Moving Average 741.13
Daily Stochastic Crossing 732.16
Price 725.63
50 Day Moving Average 712.86
Lower Bollinger Band 700.20
Monthly Trendline Resistance 625.97
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Hypermarkets & Super Centers 22
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 540.23
Low Date 10/27/2023
High 787.08
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 803.85
Support 564.22
Low 530.56
Low Date 08/25/2023
High 787.08
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 625.97
Support 561.44
Low 447.90
Low Date 01/03/2023
High 787.08
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 445.20
Support 539.27
Low 406.51
Low Date 05/20/2022
High 787.08
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.94
Low Date 05/24/2000
High 787.08
High Date 03/07/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.