Costco Wholesale may rise to 865.00 - 878.00

797 is our pivot point.

Our preference

The upside prevails as long as 797 is support.

Alternative scenario

Below 797, expect 776 and 764.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 795.974 and 752.1422).

Supports and resistances

890 **

878 *

865 **

853

827.39 (USD-last)

805

797 **

776 *

764 **

Number of asterisks represents the strength of support and resistance levels.