Recently, the leading wholesale retailer Costco Wholesale Corp (NASDAQ:COST) has come under some selling pressure. Today, the stock is trading lower today by 0.29 cents to $125.25 per share. Swing traders should watch the $120.70 area as very important daily chart support. This is the area on a COST chart where the stock broke out to the upside in early September. Often, the break-out level on the chart is an area where the stock will be supported by the institutional money in the near term.