COST

[Tina Jeng]

Hi,

     Market opens strong perhaps due to option expiration and hopefully is due for an oversold bounce.

  

      I would like to hear your opinions on COST at this level.

      Since we are trying to get better at earning gap play, here are what I saw on COST  after its earnings-

  

      - broken gap (but still looks healthy considering market condition which also corrected about 9.8% from its 9/19 high)

      - morning star candle pattern and at 50MA

      - holding the gap on 9/4

      - Ichmoku readings:  at cloud support, blue (faster) line was above red (slow) line but emerges at this point. 

        Tai-Hsing, is this a good entry if cloud support holds?

      - Forming cup with handle pattern

      - Slow Daily Stochastic  and MACD had DVG from 9/5 - 10/10  high

       Anyone?

Best,

Tina

[YCGmail]

Tina,

I saw COST put a morning star reversal in sync with market bounce.

More important it test the previous gap and successful, it is positive.

Now it bounce above 50sma is another plus.

Recent news of Costco start to sell goods on Alibaba Tmall is great

Strategy to expand oversea.  And their fast action shows good management.

It should be a good long term play.

Best,

Young-Chi

從我的 iPad 傳送

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[Tai-Hsing Cha]

Both your analysis are great!

From Ichi's point of view, it can be an entry if aggressive based on bouncing from cloud.

It would be safer when blue line back above red line or when price above red line.

COST looks like a good long term.

I would say we could initiate a small position to play the bounce or really long term accumulation.

However, I think there's a good chance the market may have a second leg down.

It would be safer to get in then.

Just my 2 cents.

Best Regards,

Tai-hsing

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