$COST TOP 20
Added 2023-04-23 15:54:31 +0000 UTCThe price action wants to test the top of this wedge and the market must feel that if we experience a recession, $COST could benefit from this. So I have added in the potential targets above if it breaks out of the wedge above.
So what we would be looking for here in the bull case, is a break out of the wedge, and a retest of the yellow trend line, flipping this from a resistance line to a support line, I suspect this will be slow moving so this should be clear to see and monitor.
A rejection of the yellow trend line will bring this down to follow the red line and into the bear case.
So What Now?
A break out above and a retest and this setup is looking good, the MACD is trending in the right direction for a break out and the RSI is in a good position to benefit from a lot of upside, so I prefer this set up to other stocks I have uploaded today.
