Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance Over the past year, every single dip on Costco Wholesale (COST) has been buyable. I'll prove it to you. Let's walk through all four dips we've seen in 2023... - In January, a dip to $450 triggered a pop over $510.
- Then, in March, a dip to $470 triggered another pop to around $510.
- In June, a dip to $480 sparked a rally up to $560.
- Finally, in September, a dip to $530 triggered a bounce up to $570.
You can clearly see every dip - followed by the subsequent bounce - in the chart below. And this brings us to the current COST chart. As you can see, just recently, the stock dipped again, falling from $570 down to $550 due to the September/October market weakness. This latest drop begs the question... "Is this current dip buyable?" |
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