On the daily chart, COST is advancing in wave 5 of (5), indicating the final leg of this bullish sequence. The next significant resistance level is anticipated around the TradingLevel at $1000, which could act as a psychological barrier. The overall trend remains bullish as the price pushes towards this major resistance.

COST Elliott Wave technical analysis

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (c) of {ii}.

Direction: Downside in wave (c).

Details: Looking at what appears to be a triangle in wave (b) of {ii}, therefore we are looking for one more leg lower into wave (c) to complete the overall correction. 850$ could provide support.

COST Elliott Wave technical analysis – One-hour chart

On the 1-hour chart, COST appears to be in the corrective phase of wave {ii}, specifically in wave (c). The development of a triangle in wave (b) suggests one more leg down in wave (c) to complete the correction. Support around $850could be a critical level to watch, as it might serve as the launching point for the next leg higher.

In this Elliott Wave analysis, we will review the trend structure of Costco Wholesale Corp., (COST) using both the daily and 1-hour charts to assess the current wave position and potential price movements.

Costco Wholesale Corp. (COST) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD bounces toward 1.1750 as US Dollar loses strength

EUR/USD returned to the 1.1750 price zone in the American session on Friday, despite falling Wall Street, which indicates risk aversion. Trading conditions remain thin following the New Year holiday and ahead of the weekend, with the focus shifting to US employment and European data scheduled for next week.

GBP/USD nears 1.3500, holds within familiar levels

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and trades with modest intraday gains at around 1.3490 as market participants remain in holiday mood.

Gold trims intraday gains, approaches $4,300

Gold retreated sharply from the $4,400 area and trades flat for the day in the $4,320 price zone. Choppy trading conditions exacerbated the intraday decline, although XAU/USD bearish case is out of the picture, considering growing expectations for a dovish Fed and persistent geopolitical tensions.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).