– Costco reversed from support level 1025.00
– Likely to rise to resistance level 1080.00
Costco recently reversed up from the support level 1025.00 (which stopped wave iv at the start of February) intersecting with the 20-day, moving average and the 38.2% Fibonacci correction of the upward impulse from January.
The upward reversal from the support level 1025.00 stopped the previous minor correction 2, which belongs to wave (5) from December.
Given the clear daily uptrend, Costco can be expected to rise to the next resistance level 1080.00 (top of the previous impulse wave 1).
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