03Nov
Costco Wholesale Corp., Elliott Wave Technical Analysis 3 November 2022
Costco Wholesale Corp., Elliott Wave Technical Analysis 3 November 2022
4 Hour Chart
COST Stock Market Analysis: It is pretty clear that the move up in wave {a} was a three wave move as shown.
COST Elliott Wave count: Wave (c) of {b}.
COST Technical Indicators: Below all EMAs.
COST Trading Strategy: Waiting for further developments, we will most likely get some kind of support within the area of wave ii of (c).
Daily Chart
COST Stock Market Analysis: Moving lower as predicted in the last forecast. We will have to find out whether we are already into an impulsive move such as in wave 3 or else we are still correcting wave 2.
COST Elliott Wave Count: Wave {b} of 2.
COST Technical Indicators: Reacted from the 200EMA.
COST Trading Strategy: Waiting for an upside move if we will eventually develop into a wave {c} or else if we break the green line we can start looking for shorts.
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