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Costco Wholesale (COST) Approaches New Downside Target of $321.81

By Amy Schwartz

Costco Wholesale (NASDAQ:COST) has opened bearishly below the pivot of $323.41 today and has reached the first level of support at $322.91. Should the shares continue to fall, the support pivots of $321.81 and $320.21 will be of interest.

Costco Wholesale (NASDAQ:COST) defies analysts with a current price ($323.62) 35.4% above its average consensus price target of $209.13. The stock should discover initial support at its 50-day moving average (MA) of $302.41 and subsequent support at its 200-day MA of $284.90.

Over the past year, Costco Wholesale has traded in a range of $214.25 to $324.53 and is now at $323.62, 51% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

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: pivot alerts costco wholesale

Ticker(s): COST