Costco Becomes Attractive
Costco (COST) appears to be settling in near a key support area. The stock has had a rough month so far, but it's setting up as a very-low-risk buy.
COST reached fresh 2012 highs in late March but was unable to pierce the $92 level. With multi-week highs in place near this level and the powerful upside momentum from late February fading, the stock was primed for a steep pullback. The fade following the March sales numbers pushed shares to five straight lower closes. COST fell below its 50-day moving average before reaching a key support level just above $86. The stock had pulled back more than 5% and was becoming oversold as the March lows came into play....239 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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