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COSTCO Q4 PROFIT TOPS EXPECTATIONS, STOCK ABOVE ALL MAs - Capital Street FX

04-Oct
23:48 IST

Costco Wholesale’s stock is currently trading at 290.36-higher by 0.47% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 0.67%. The stock has erased all of its earlier losses and turned positive after the opening bell.

The company reported its fourth-quarter earnings after the market close on Thursday. Costco generated an EPS (excluding one-time items) of $2.69 for the fourth quarter. The EPS was above the market expectation of $2.54. The company brought in $47.50 billion in revenue for the fourth quarter. The revenue was above the consensus estimates of $47.48 billion. The Issaquah, Washington-based company said it plans to open its second Shanghai store in 2021. Shares of Costco rallied more than 40% so far in 2019.

On the technical front, the current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards. The RSI is currently at 53.99% and suggests that the market can move in the upward direction.

 

TRADE SUGGESTION-LIMIT BUY AT 290.10 TAKE PROFIT AT 292.00 STOP LOSS AT 289.10

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