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COST at new highs again: 6 times in the last 10 days

Published: October 17th, 2020 - 9.03am EDT

Costco Wholesale Corporation ($COST) has been consistently making new highs in the last 10 sessions. Yesterday Costco Wholesale Corporation ($COST) did it again and stock closed at $381.54 moving up a 1.32%; new all-time highs are set at $384.86.

On Thursday, Jefferies Financial Group rated COST with strong bullish. The opinions issued by financial analysts are not a buy or sell recommendation for small investors, so it is not appropriate to follow them blindly.

Since in mid-June, Costco Wholesale has been drawing an uptrend that by now marked a gorgeous 30.13%. Rising tops and bottoms can be seen easily on a chart and how price gave very few entry points on the breakouts. Latest low was in mid-September, when price bounced at $331.20. Costco Wholesale broke out above $363.67 (its last top) on October 8. That breakout was a good buying opportunity

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.. The stock is part of the Discount Stores industry in the Consumer Defensive sector. The company's Headquarters are in Issaquah, United States, and has 156,000 employees worldwide. Check for further details at its corporate site at http://www.costco.com.

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