Costco (COST) – Staples Spark A Rally – May 17th, 2019

The bullish DailyPlay we chose for Friday, May 17th is Costco (COSTWealth Strength IndexAAPL is Extremely Up and trending Up). COSTWealth Strength IndexAAPL is Extremely Up and trending Up 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), COSTWealth Strength IndexAAPL is Extremely Up and trending Up is a strong stock that will likely continue higher.

As a stop loss, if COSTWealth Strength IndexAAPL is Extremely Up and trending Up was to trade below $240 for multiple days, this would invalidate our analysis and suggest getting out of the trade.