Costco Wave Analysis – 8 July, 2020

• Costco broke pivotal resistance level 315.00

• Likely to rise to 322.00

Costco recently broke above the pivotal resistance level 315.00 (which stopped the earlier B-wave at the start of June, as can be seen below).

The breakout of the resistance level 315.00 continues the active impulse wave 3 of the intermediate impulse sequence (3) from June.

Costco is likely to rise further toward the next resistance level 322.00, which is the monthly high from April and the target for the completion of the active impulse wave 3.