Costco Technical Analysis: Where Is The Bottom? – Costco Wholesale (NASDAQ:COST), Citigroup (NYSE:C)
Trading in Costco Wholesale Corporation (NASDAQ: C) is quiet Monday. This comes after the shares lost almost 3% in Friday’s trading. A disappointing earnings report drove the move.
Some traders are watching to see if there will be a reversal and move higher soon. This is why it is today’s Stock of the Day.
If Costo drops to levels around $885, there is a good chance it finds support. As you can see on the chart below, there was support in March and again in April.
Stocks tend to find support at levels that have been support previously. This is a common occurrence in the market, and it happens because of seller’s remorse.
Some of the people who sold around $885 worth of shares in March regretted their decisions after the…
