COST broke the trendline, now it is going to go down

8 mar

Costco stock fell 7%+ today, breaking the overall trendline on the D and 4H graphs. I predict that it will have a green day on Monday because the market will retest/correct itself, and after touching the R1 price on pivots (Fibonacci), we can short COST. With a risk-reward ratio of 1:3, less risky traders can exit at a given price in the image, and if you can hold more, the exit price would be $671 (but don't do this because if the overall market is up, COST will have a hard time touching this FVG).