Bullish – COST $247.44 – Consumer Staples
The bullish DailyPlay we chose for Friday, May 17th is Costco (COST). COST is part of the Consumer Staples Sector (XLP). XLP has rallied 2.48% higher over the past month and its 1m and 6m trend turned bullish on May 14th but just bounced higher off its $56 support level.
Costco’s 1m and 6m trends turned bullish and neutral on May 15th and recently bounced higher off its $240 major support level yesterday. With a technical score of 7 (out of 10), COST is a strong stock that will likely continue higher.
As a stop loss, if COST was to trade below $240 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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