Costco: Fundamentals Align With Technicals - And It's Not Bullish (Technical Analysis)

Summary

• Lyn Alden discusses the similarities between Costco and Walmart in the late 1990s, highlighting extended valuations and stagnant stock prices.
• Our methodology uses past price structures to predict future movements, providing probabilities and targets for stocks like COST.
• Practical application of the theory suggests a potential bearish setup for Costco stock, with specific levels to indicate when to step aside or change our stance.

Ibrahim Akcengiz

By Levi at Elliott Wave Trader; Produced with Avi Gilburt

When Lyn Alden renders an opinion, we listen carefully. As one of our lead analysts, she regularly covers key stocks as well as broader market macro views. One of the principal tenets

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in COST over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.