Costco Wholesale Corporation (COST) runs membership warehouses in the US and other countries through subsidiaries. It sells branded and private-label products across multiple categories and operates e-commerce sites in the US, Canada, the UK, and other markets.<\/p>\n
The stock trades on Nasdaq under the \u201cCOST\u201d ticker and sits in the Consumer Defensive sector. The weekly chart is described as bullish while price stays above the $844.06 low.<\/p>\n
A move is expected to continue from the May 2022 low, with resistance at the February 2025 high of $1080. A break above $1080 is presented as a trigger to look for a pullback, with targets of $1515 or higher.<\/p>\n
On the weekly wave count, ((I)) ended at $612.27 (April 2022) and ((II)) at $406.51 (May 2022). Then (I) of ((III)) ended at $1078.23 (February 2025) and (II) at $844.06, with w at $871.71, x at $1067.08, and y at $844.06.<\/p>\n
From $844.06, ((1)) is marked at $1028.44 and ((2)) at $966, with (A) $960.46, (B) $1035.82, and (C) $966. The projected ((3)) range is $1149.3\u20131262.4, and a larger correction risk is noted if price breaks below the December 2025 low.<\/p>\n
We see Costco in a strong bullish trend that began after the May 2022 bottom. The structure of this rally suggests we should remain positive as long as the price stays above the $844.06 low from late 2025. This level is the key line of defense for the current upward move.<\/p>\n
The critical breakout above the February 2025 high of $1080 has already occurred, validating the bullish outlook. Recent performance confirms this strength, with Costco’s latest quarterly earnings showing a 9% rise in same-store sales, which is impressive given recent consumer spending data. The stock is currently consolidating around the $1125 level, building a base for the next move higher.<\/p>\n
For the coming weeks, any pullback should be viewed as a buying opportunity for call options or bull call spreads. This aligns with the historical pattern we saw after the 2022 market correction, where buying dips in this name was a highly effective strategy. We are specifically looking for pullbacks in three or seven swings to establish these long positions.<\/p>\n
The immediate upside target for this current wave is in the $1149 to $1262 range, an area that could be tested this summer. Successfully holding above this zone would set the stage for a much larger, multi-month rally toward the long-term objective of $1515. Traders can use these levels to select strike prices for options expiring in the later part of the year.<\/p>\n
The primary risk to this outlook would be an unexpected, sharp reversal that breaks below the key $844.06 low. A move below that critical support would invalidate the immediate impulse wave and signal that a much larger and more complex correction is underway. Until then, the path of least resistance remains to the upside.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" Costco (COST) remains bullish above $844.06; breakout over $1080 targets $1515+, with Elliott wave projections.<\/p>\n","protected":false},"author":103,"featured_media":16989,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[11],"class_list":["post-53652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates","tag-indices"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/53652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=53652"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/53652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/16989"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=53652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=53652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=53652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}