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Bearish Moving Average Cross by Costco Wholesale (COST)

By James Quinn

Today, shares of Costco Wholesale (NASDAQ:COST) have crossed bearishly below their 10-day moving average of $152.03 on a volume of 316K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Costco Wholesale has traded in a range of $117.03 to $169.73 and is now at $151.56, 30% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 0.02% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Costco Wholesale on August 31st, 2016 by issuing a Downtrend alert when the shares were trading at $161.86. Since that call, shares of Costco Wholesale have fallen 5.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses costco wholesale

Ticker(s): COST