Costco Wholesale Corporation., (COST) engages in the operation of membership warehouse in the United States & globally together with its subsidiaries. It offers branded & private-label products in the range of merchandise categories. It also operates e-commerce websites in the US, Canada, UK & many other countries. It comes under Consumer Defensive sector & trades as “COST” ticker at Nasdaq.
In weekly, COST is bullish nested impulse Elliott Wave sequence against May-2022 low. It found support in blue box area in December-2025 low & expect further upside in ((1)) of I, which will confirm above February-2025 high.
It ended ((I)) in weekly at $612.27 high in April-2022 & ((II)) at $406.51 in May-2022. Above there, it ended (I) of ((III)) at $1078.23 high in February-2025 high & (II) at $844.06 low. Within (I), it placed I at $564.75 high, II at $447.90 low, III at $1008.25 high, IV at $902 low & V at $1078.23 high as (I). Within III, it ended ((1)) at 530.05 high, ((2)) at $465.33 low, ((3)) at $923.83 high, ((4)) at $867.16 low & ((5)) at $1008.25 high. The (I) was having extended III wave, which indicates the strength of the trend. In (II) pullback, it ended w at $871.71 low, x at $1067.08 high & y at $844.06 low in blue box area.
COST – Elliott Wave Latest Weekly View: 
Above (II) low, it favors rally in (1) of ((1)) of I of (III). It expects small upside to end the (1) in five swings in 4-hour sequence before pullback in (2). It already rallied more than 50% of y leg, which allows buyers to be risk free longs. Further upside will confirm above February-2025 high. We like to remain long from blue box area. Buyers can look for target above $1515 or higher, once break above February-2025 peak. Alternatively, it may fail below February-2025 peak in 3 swings before doing larger double correction in (II), if breaks below $844.06 low.
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