COST pushes through key resistance level

Costco Wholesale Corporation (COST) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team


COST rallies 3.0% on high volume
COST pushes through key resistance level
COST unable to break through key resistance level
COST closes higher for the 4th day in a row
COST pushes through previous session high


Moving higher for the 4th day in a row, COST ended Monday at 194.58 surging $5.67 (3.0%) on high volume. This is the biggest single day gain in over three weeks. Today's closing price of 194.58 marks the highest close since January 30th. Closing above Friday's high at 189.83, the stock confirms its breakout through the prior session's high having traded $5.97 above it intraday.

Daily Candlestick Chart (COST as at Apr 16, 2018):

Daily technical analysis candlestick chart for Costco Wholesale Corporation (COST) as at Apr 16, 2018

Monday's trading range was $4.42 (2.3%), that's above last trading month's daily average range of $3.85. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Breaking through the key resistance level at 192.25 today, it is now likely to act as support going forward. Unable to break through the key technical resistance level at 195.52, the share closed below it after spiking as high as 195.80 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With prices trading close to this year's high at 199.35, upside momentum could accelerate should Costco Co. be able to break out to new highs for the year.

Market Conditions for COST as at Apr 16, 2018

Loading Market Conditions for COST (Costco Wholesale Corporation)...
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