$COST TOP 20
Added 2023-05-14 20:45:23 +0000 UTCGetting close to the top of the trend line now, it is above the 50 and 200 Day MA and Morgan Stanley raised their PT from $520 to $535 on Friday, will this be enough to push this through the trend line and flip it from resistance to support?.....I am not sure on that, I think it needs more help.
That being said, if a recession is looming and is confirmed, $COST could benefit from a larger market as people try to save money by not buying from premium supermarkets and shopping at $COST instead.
So What Now?
A breakout above and the targets above are as shown, a rejection and it will move back down the wedge again.
