COST finally out of consolidation
COST had been a great trending stock for quite some time - particularly through 2011-2013.
But the last year has been a poor one for the trend trader. On the weekly chart this is shown by the rounded bottom and on the daily chart by a period of consolidation.
The breakout from this zone was messy. Finally on 29th and 30th October we had a couple of bullish bars but the volume was on the low side so this was not a convincing long position. But yesterday's bar (4th November) broke out (from a one bar pullback) on higher volume. Might be a good buy opportunity again.
But the last year has been a poor one for the trend trader. On the weekly chart this is shown by the rounded bottom and on the daily chart by a period of consolidation.
The breakout from this zone was messy. Finally on 29th and 30th October we had a couple of bullish bars but the volume was on the low side so this was not a convincing long position. But yesterday's bar (4th November) broke out (from a one bar pullback) on higher volume. Might be a good buy opportunity again.
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