$COST has raised its head above the channel trend line at at $575 and has looked promising to break out this time after making a higher low.
The variable here is how the market behaves to the Moody's downgrade on Friday.
I think if the price action can hold above $575 or get above the First Target level at $580, it can start to move higher to our Wave 3 target at $640.
If the market pulls back hard next week, this may continue consolidating in this channel again and will give members another chance to add here before moving higher.