Could Costco Wholesale (COST Stock) drop towards the 480 level?


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Today’s instrument is the Costco Wholesale Corp. ‘s stock traded in Nasdaq exchange under the ticker COST.

Looking at the COST ‘s chart, we see that it was lastly traded at around $494.50. its support level is located at around $490 and its resistance level at around $530.

Costco has scheduled its quarterly earnings announcement at the end of this week, and if the market’s anticipation in positive then we could expect its price to hold above its support level and test its resistance level otherwise it should further drop towards its next support level at around $480.

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