The Long Investor

$COST TOP 20

Added 2023-04-17 04:07:48 +0000 UTC

Very little has changed here over the last week, the 200 Day MA is still acting as a resistance and the trendline is also acting as a resistance line too. The RSI is not giving us any positive trend either. These are common features with wedges too. The trend leading into the wedge was downward, so the likely trend to leave a wedge should be downward.....that being said, a lot has happened since May last year.

So What Now?

We continue to monitor this and I would like to see a breakdown from the wedge and into the bear case, if it does break down, I believe the rejection and trend will comfortably bring this into our buy zone then.