Nov. 13 at 12:54 AM
$COST is currently trading at
$915.45, with an RSI of 35.86, indicating it is in oversold territory and may be due for a rebound. The price is below both the 30-day MA of 927.79 and the 50-day MA of 937.1, suggesting bearish momentum in the short to medium term. The recent high of 999.3 and low of 903.29 over the last 60 days further emphasize the current range, with potential support near the low.
Directional bias leans towards a potential short-term reversal given the oversold RSI, but caution is warranted due to the prevailing downtrend indicated by the moving averages.
Suggested entry:
$917.00 (slightly above the last close to confirm upward movement). Stop loss:
$905.00 (just below the recent low). Target 1:
$930.00 (near the 30-day MA). Target 2:
$940.00 (near the 50-day MA).
Monitor for any changes in momentum or trend indicators.
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