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Costco Wholesale Falls 2.18% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Costco Wholesale (NASDAQ:COST) traded in a range yesterday that spanned from a low of $162.39 to a high of $167.38. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $165.00 on volume of 8.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Costco Wholesale share prices have moved between a 52-week high of $183.18 and a 52-week low of $117.03 and are now trading 39% above that low price at $163.08 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Costco Wholesale. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Costco Wholesale in search of a potential trend change.

Keywords: rebounders costco wholesale

Ticker(s): COST