Costco Wholesale Corp

By root | November 26, 2007 AAA

Costco Wholesale Corp (Nasdaq:COST) has held up fairly well in the weak market and it will be interesting to see if the company can follow in Wal-Mart's (NYSE:WMT) footsteps when it releases earnings on December 13. As you can see from the chart below, the bears have been unable to send the price below the support of the $64.50 mark. Many traders will hold a bullish outlook on this stock until the price moves below this horizontal trendline. We've also added the On Balance Volume indicator, which has been steadily sloping upward - a sign that money is flowing into the stock and preventing the price from moving lower.




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