I have a panic low indicator that triggered on Costco. It has plenty of signals generated at tradable low, but sometimes the signal is early because the move down isn’t finished. I went looking for a similar setup with the very weak bounce and found a possible match: May 2022.
The gap down and plunge for 3 days ends on OPEX. The loss off the ATH made not long before that was 21 percent.
Loss on this down move was 18 percent off the ATH. Similar weak bounce. OPEX coming.
I looked at CCI set at 20 days, also RSI and stochastics on daily, weekly and monthly and it all looks similar. Earnings are in March for Costco. This is post-earnings this time, while in May it was after those March earnings.
I also did a search for news, and I didn’t find anything except this. Perhaps this is merely a potentiality in the stock that could open the floodgates for selling if a trigger were to fire. Sans a trigger, maybe nothing to this.
