Add as a preferred source on GoogleCostco Holds Its Long-Term Uptrend as Momentum Indicators Improve
Katie Stockton sees shares in a nearly two-year trading range, with the 200-day moving average as initial support and resistance near $1,078.
Costco shares remain inside a trading range that has lasted nearly two years, but Fairlead Strategies founder and managing partner Katie Stockton sees improving momentum and an intact longer-term uptrend.
Stockton's monthly cloud model keeps the longer-term bull trend in place. Shares recently moved above the 200-day moving average, which she identifies as initial support. The next resistance level is around $1,078, close to the stock's 2025 high.
The weekly MACD has returned to positive territory, reflecting a recovery in intermediate-term momentum. Monthly stochastics have room before reaching overbought territory, and similar momentum improvement is visible across the sector.
November has been Costco's strongest month in both 10-year and 25-year historical periods. Shares gained more than 7% in five of the past six Novembers and have not posted a November decline since 2008.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.