Trading Monitor: Zooming in on Shares of Costco Wholesale (COST) Pivoting at $243.71

Narrowing in on shares of Costco Wholesale (COST), we can see that the current 20-Day Bollinger Bands signal is currently reading Hold. This short-term indicator can be used to help identify oversold and overbought conditions. The signal direction is presently Rising. Following another signal, we note that the 10-day moving average Hilo channel reading is currently Hold. This indicator calculates the moving average based on highs/lows rather than the closing price. The direction of this signal has been spotted as reading Rising.

Investors may be intent on creating unique strategies when approaching the equity markets. Individuals with longer-term mindsets may have completely different strategies than those who trade in the short-term. Whatever class they fall under, investors may have to decide how aggressive they want to be in order to capitalize on these strategies. Navigating the bull market may make things a bit easier for some and much harder for others. Many investors will set their sights on dips and corrections. This may prove to be a successful strategy, but this may also create many missed opportunities. Keeping track of key economic data along with market trends and earnings information typically seems to be a boon to any strategy. Highly active traders may keep close watch after the markets have a sleepy session or two. Investors staying the course might actually be relieved when activity cools a bit. 

Shifting gears, we see that the opinion signal for the current session is 16% Buy for Costco Wholesale. Investors may also be watching the strength and direction of the opinion signals. The opinion direction is presently Weakening. This is a measurement over the last three trading sessions that gives an indication of whether the latest recent price movement is following the signal. A Buy or Sell signal with a “Strongest” direction indicates that the signal is gaining strength. The opinion strength signal is presently reading Average. This is a longer-term measure verse the historical strength.

Costco Wholesale (COST) currently has a standard deviation of -0.18. Standard deviation is defined as a measure of the dispersion from the mean in regards to a data set. When dealing with financial instruments, the standard deviation is applied to the annual rate of return to help measure the volatility of a particular investment. Watching the standard deviation may help investors see if a stock is primed for a major move. The stock’s current pivot is 243.71. The pivot point is typically used as a trend indicator. The pivot is the average of the close, low, and high of the prior trading period.

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Costco Wholesale (COST)) currently has a 6 month MA of 224.38. Investors may use moving averages for different reasons. Some may use the moving average as a primary trading tool, while others may use it as a back-up. Investors may be watching when the stock price crosses a certain moving average and then closes on the other side. These moving average crossovers may be used to help identify momentum shifts, or possible entry/exit points. A cross below a certain moving average may signal the beginning of a downward move. On the other end, a cross above a moving average may indicatet a possible uptrend. Investors may be focused on multiple time periods when studying moving averages. Zooming out a bit further, we have noted that the 9 month moving average is currently 226.28.

Investors may be tracking the average range on shares of Costco Wholesale (COST). The stock currently has a 9 day average range of 2.99. This a moving average of trading ranges over a 9 day time frame. With this value, higher numbers tend to occur at market bottoms while lower values may be spotted during extended sideways periods. Looking at the 9 day relative strength reading, we can see that the value is currently 51.43%. This technical momentum indicator compares the size of recent gains to recent losses helping to identify possible overbought and oversold conditions.

With most major indexes showing strength, it is safe to assume that many investors may have their heads in the clouds. With many stocks frequently hitting new milestone highs, investors may be scrambling to make sure that they aren’t missing out on possible returns. Maybe some stocks have been doing well, but others not in the portfolio have been doing much better. There is rarely any substitute for hard work and dedication. Investors may get complacent with stocks that they are familiar with. Branching out into uncharted waters may help broaden the horizon and start the gears grinding for new trading ideas. Traders and investors will no doubt be closely monitoring the markets as we move into the second half of the year. It remains to be seen whether optimism or pessimism will rule going in to the next round of quarterly earnings reporting.