FOMO

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Costco stock price is currently trading at $563.53 with a rise of 1.91% in the last 24 hours with a market cap of $249.727 Billion.</a> </li> 
 <li> <span>2</span> <a>Inverse head and shoulder patterns noticed in the chart indicate bullishness.</a> </li> 
</ul> 
<p>Costco stock price is gaining momentum and broke above the 20, 50, 100, and 200-day EMAs, indicating bullishness in the previous trading sessions. The price broke out of the inverse head and shoulders pattern with its neckline breaching the $570, as the stock was expected to show a sharp rally.</p> 
<p>The stock has tested the demand zone near $549 multiple times, finding support and bouncing back. Buyers have regained their strength and are aiming for the $570 level in the coming sessions.</p> 
<p>Previous number of months were volatile, with the Cost stock price facing multiple rejections from the supply range of $570. The lower levels near $550 acted as a support region, and the stock bounced from there, pushing the price into a narrow range.</p> 
<p>Furthermore, the COST stock price trajectory shows that beyond $570, the zone is bullish, and that a rally is imminent. But, if further rejection takes place, then the stock will continue to trade in the congestion zone. Similarly, below $550, bearishness could be extended.</p> 
<p>At press time, COST stock was $563.53 with an intraday gain of 1.91% breaking below the 50-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 4.591 Million, and the average 10-day volume was 1.921 Million. The market cap of Costco stock is $249.727 Billion.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-costco-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Costco Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-1024x466.png" alt="Costco Stock Forecast: Will COST Stock Price Breach $270 Level?" class="wp-image-171935" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-948.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Costco.1D.NYSE by <a href="https://www.tradingview.com/x/43UTsQ42/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Currently, Costco stock (NYSE: COST) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the price momentum.&nbsp;</p> 
<p>However, if buying volume adds up in the COST stock price, then the price might support bullish momentum by making higher highs and new highs. Hence, the Costco stock <a href="https://www.thecoinrepublic.com/2023/08/04/costco-stock-price-prediction-can-cost-stock-fall-below-550/" target="_blank" rel="noreferrer noopener">price</a> is expected to move upwards giving bullish views over the daily time frame chart.</p> 
<p>The current value of RSI is 57 points. The 14 SMA is above the median line at 58 points which indicates that the Costco stock is bullish.</p> 
<p>The MACD line at 3.02 and the signal line at 2.91 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the COST stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Costco stock price technical oscillators highlight the bullishness in the trend. MACD, RSI, and EMAs are giving positive signals, suggesting that the uptrend is likely to continue. On the 1-day time frame, price action suggests investors and traders are bullish. However, investors and traders should avoid FOMO by waiting for proper setups before moving forward.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $549.96 and $538.45</p> 
<p>Resistance Levels: $570.00, and $580.00.</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

Costco Stock Forecast: Will COST Stock Price Breach $270 Level?

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