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Watch for Costco Wholesale to Potentially Rebound After Falling 2.26% Yesterday

By Amy Schwartz

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.

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%.

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.

Keywords: rebounders costco wholesale

Ticker(s): COST