COST is showing a classic Rectangle. Don't miss the move.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Traders are watching Costco (COST) as price action tightens. Price has moved to $974.8 (-0.62%) amidst recent volatility. The primary technical feature is a Descending Triangle formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $960.46, targeting $885.1 with support near $1035.82 (R:R 1.0).
What is your outlook on COST?