18.12.2020
The trading plan is drawn up using price channels and modified wave analysis for the Smart Trading trading system.
Costco Wholesale Corp. (NASDAQ)
#COST
The overall trend is upward. The stock is trading in the range of the lower border of the rising price channel. On the H4 timeframe, a Long-Legged Doji has formed. The descending pattern is truncated, and the Stochastic Oscillator signals an oversold condition.
Trading idea:
Buy on the formation of an upward wave pattern, where wave (A) breaks out the inclined channel of the downward pattern.
Stop Loss - 367.90.
The target level is 388.00.
Thank you for subscribing to our analytics
You already subscribed
Don't have your language?
