COST Technicals Deteriorate at $956.32 Level
Costco Wholesale Corp (COST) slipped 3.91% to $956.32 on May 31.
From a technical standpoint, the outlook appears bearish:
Moving Averages
Bearish EMA structure persists with price below the 9-day ($1010.68) and 21-day ($1018.32).
Momentum
RSI at 33.9 is in neutral territory but trending lower. MACD is bearish (-2.01 vs signal 7.57).
Volatility
Price has pierced the lower Bollinger Band ($960.47), which often precedes a bounce.
Despite the bearish EMA structure, oversold RSI suggests patient buyers may find opportunity near $960.47.
Watch $960.47 as support and $1087.90 as resistance.
