Costco Wholesale Corporation : Lower limit of a bullish channel
Entry price | Target | Stop-loss | Potential |
---|
$107.56 |
$0 |
$104.7 |
-100% |
---|
The Costco Wholesale' stock is in a sharp bullish trend for many years.
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. Based on current prices, the company is valued at 0.45 times its sales. In addition, analysts have recently revised upward their earnings estimates and now expect a profit of USD 4.65 per share for the current year.
Costco Wholesale Corporation is in bullish trend in the medium and long term. In weekly data, moving averages are well-oriented and the security is moving within a sharp bullish channel. Prices are now back to the lower limit and may bounce, supported by the 100-day moving average, towards the USD 114.8 resistance.
Thus, a long position can be opened at the current price. The first objective will be a comeback to USD 114.8. A stop loss is placed under the USD 106.1 short term support.
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