Sunday Prep 9/26 - $COST Earnings Sent this Back Towards ATHs!
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NASDAQ:COST Costco Wholesale Corporation
Earnings on Friday sent this big guy ripping back towards ATHs. 50% retrace of Friday’s candle puts us right into that quarterly pivot area. I would be interested in buying some early weakness in the name around that spot. This is the kind of chart where if the trade works and we close the day somewhere close to highs, I would be very inclined to swing a portion of it.
$COST I don't like that it broke the highs and shot right back down, Might still entertain it off the 20d. I feel like when this happens it pulls a lot of longs in, don't like the fake breakout setups.