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Costco Wholesale Falls 2.26% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Costco Wholesale (NASDAQ:COST) traded in a range yesterday that spanned from a low of $235.55 to a high of $239.00. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $241.05 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Costco Wholesale on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $189.14. Since that recommendation, shares of Costco Wholesale have risen 27.6%. We continue to monitor COST for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Costco Wholesale have traded between a low of $154.11 and a high of $245.16 and are now at $235.67, which is 53% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.2%.

Keywords: rebounders costco wholesale

Ticker(s): COST