Costco Wholesale may fall to 740.00 - 756.00

Our pivot point is at 853.

Our preference

The downside prevails as long as 853 is resistance.

Alternative scenario

The upside breakout of 853 would call for 881 and 898.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 840.7615 and 840.8872).

Supports and resistances

898 **

881 *

853 **

841

822.08 (USD-last)

772

756 **

740 *

723 **

Number of asterisks represents the strength of support and resistance levels.