Costco Wholesale may rise to 893.00 - 905.00

826 is our pivot point.

Our preference

The upside prevails as long as 826 is support.

Alternative scenario

The downside breakout of 826 would call for 806 and 794.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 822.749 and 772.1392).

Supports and resistances

918 **

905 *

893 **

881

855.67 (USD-last)

834

826 **

806 *

794 **

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