After reporting a better than expected earning, price of Costco accelerate almost touching the channel top again.
One weekly chart, it finished as a high spin wave, essentially means that bulls & bears are equally puzzle where the price will go.
Immediately, the price might want to break the long term channel top (green), any false breakout that is rejected at the high will be my anticipated downtrend channel complete. Right now, the downtrend channel bottom seems to have found its direction.
I am waiting for the price to at least breakout high to initiate my short puts.
P.S. MACD show a weak sign of bearishness
One weekly chart, it finished as a high spin wave, essentially means that bulls & bears are equally puzzle where the price will go.
Immediately, the price might want to break the long term channel top (green), any false breakout that is rejected at the high will be my anticipated downtrend channel complete. Right now, the downtrend channel bottom seems to have found its direction.
I am waiting for the price to at least breakout high to initiate my short puts.
P.S. MACD show a weak sign of bearishness
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