Trading Idea for Costco Wholesale Corp. (NASDAQ)

Costco Wholesale Corp. (NASDAQ)
#COST

The trend is downward. The stock is trading within the range of the 365 and 135 EMAs. The ascending wave structure is truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator indicates overbought conditions.

Trading Idea:
Sell upon the formation of a downward wave structure, where wave (A) breaks through the trendline of the truncated ascending pattern.

Stop Loss: 945.16
Target levels: 918.60; 905.00