COST has been moving steadily higher since its October 4th low. At today’s peak the stock is up just shy of 9% since reporting its Q4 results. COST is beginning to pierce a key overhead trendline that has capped the Sept/Oct highs. A clear break above the current two month consolidation could spark quite a run before returning to overbought territory. How shares close out the week will be a good tell.
At time of publication we are long COST in some managed accounts.