Costco Wholesale may rise to 887.00 - 900.00

Our pivot point is at 827.

Our preference

The upside prevails as long as 827 is support.

Alternative scenario

The downside breakout of 827 would call for 806 and 793.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 809.4686 and 761.026).

Supports and resistances

912 **

900 *

887 **

874

848.321 (USD-last)

834

827 **

806 *

793 **

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