Costco: the sell-off loses steam, week 14
Costco stock slips 0.2% as the ADX marks a fifth straight weekly decline
Our view last week
After a week of dominant buyers, sellers took back control of Costco: 58% of volume, and the stock gave back 1.4%. The ADX keeps falling for a fourth straight week, a sign the trend keeps losing conviction, while price stays pinned between the 950 area and the 945 area, with the distribution phase flagged by the price action still in place.
This week's summary
Costco stock stays boxed between the 945 support and the 951 resistance: after last week's -1.4%, this week closed almost flat (-0.2%), though sellers still hold the upper hand at 70% of volume. The ADX has fallen for a fifth straight week: the decline continues, but with no fresh push. The sell signal is now in its 14th week, with the short barely above breakeven.
IQS Phase
70
in tension
Signal Strength
5
decline losing steam
Sizing
MINIMUM
Ranking
#84 / 96
US stocks
Trade P&L %
+1.13%
from signal to date, no stop loss
Rank position
ranks 84th among the 96 sell signals for US stocks in our ranking, with a signal strength of 5 out of 100.
Sector context
SectorConsumer Discretionary
Benchmark ETFXLY
Sector regimein positive regime
Performanceweekly -0.69% · monthly +5.02%
COST belongs to the consumer discretionary sector (reference ETF XLY). The sector is classified in positive regime according to our weekly reading.
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