Costco Wholesale Corporation (COST) stock price declined in its latest intraday trading, as it attempts to gain positive momentum that could help it recover and rise again, amid the dominance of a short-term corrective bullish trend, with price moving alongside a supporting trendline. In addition, positive pressure continues as the stock trades above its 50-day SMA, while the RSI continues to deliver positive signals in the background.

Therefore we expect the stock price to rise during its upcoming trading sessions, as long as it remains stable above the support level at $980.00, targeting the resistance level at $1,028.

Today’s price forecast: Bullish

Coffee prices repeatedly provided positive closes above the main support level of 275.90, activating with stochastic positivity by forming a new bullish rally, to settle near 292.70.

The continuation of providing positive momentum by the main indicators will reinforce the chances of reaching towards the barrier at 301.00, and surpassing it will confirm its readiness to recover new gains that might begin at 307.10 reaching %78.2 Fibonacci correction level at 316.75.

The expected trading range for today is between 283.00 and 307.10

Trend forecast: Bullish

The pair attempted during yesterday’s trading to activate a bearish move by targeting the 181.85 level. However, the continued conflict among the main indicators forced it to postpone the bearish move and produce an upward rebound, stabilizing currently near 183.10.

Noting that the bearish scenario remains valid, with the 184.40 level acting as a key barrier. We expect the price to show mixed trading for now until it gathers the required negative momentum to confirm a break below 182.00, which would then lead to further downside targets around 181.55 and 180.80.

The expected trading range for today is between 182.00 and 183.50

Trend forecast: Sideways

Since yesterday’s trading, the pair has resisted negative pressure caused by the stochastic indicator slipping below the 50 level. We now observe a new positive close above the support at 210.60, followed by the formation of upward waves, bringing the price closer to the first target at 212.10.

We emphasize the importance of the price gathering positive momentum to maintain stability above 212.35, which would confirm readiness to target new bullish levels starting at 213.00 and 213.65. However, failure to hold above this level may reactivate the corrective bearish path, pushing the price down first toward 210.60. A break below this support could lead to further losses, targeting 209.45 and 209.00.

The expected trading range for today is between 211.30 and 213.00

Trend forecast: Bullish