Costco tries to regain footing - Analysis - 15-08-2022

Costco's stock (COST) rose while trading alongside the upward correctional short-term trend line, with support from the 50-day SMA, marking a profit of 0.94%, or 5.01 points, and settling at 537.21, while the RSI reached oversold levels, hinting at negative divergence. 

Therefore we expect more gains for the stock, targeting the first resistance at 566.50, provided the support of 523.80.

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Expected trend for today: Bullish