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Watch for Costco Wholesale to Potentially Pullback After Gaining 1.92% Yesterday

By David Diaz

Costco Wholesale (NASDAQ:COST) traded in a range yesterday that spanned from a low of $248.55 to a high of $249.36. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $245.40 on volume of 780,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Costco Wholesale has traded in a range of $189.51 to $249.34 and is now at $249.34, 32% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Costco Wholesale and will alert subscribers who have COST in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders costco wholesale

Ticker(s): COST