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$COST : Bullish Trend Facing Short-Term Resistance
The price of $COST is currently trading at $1,043.2, showing a negligible daily decrease of -0.08%. On the 1-hour chart, the asset is exhibiting a strong overall uptrend but is currently experiencing a healthy retracement after hitting a fresh local high.
Long $COST
Entry Zone: $1,038.0 – $1,044.0
Stop Loss (SL): $1,028.0
Target 1 (TP1): $1,058.0
Target 2 (TP2): $1,075.0
Target 3 (TP3): $1,100.0
Market Analysis
$COST has maintained a solid bullish structure throughout the day, climbing steadily from its 24h low of $1,034.0. The price recently peaked at a 24h high of $1,058.5, where it encountered significant selling pressure, resulting in a large bearish rejection candle.
The 24h turnover of $135.69K is relatively low, which can lead to sharp, volatile movements on lower timeframes. Despite the current red candles, the price is holding above previous consolidation levels. If bulls can establish support around the $1,040 mark, a retest of the $1,058 resistance is likely. A successful breakout above that high would signal a continuation of the macro bullish trend.
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