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COSTCO TOPS PROFIT EXPECTATIONS, STOCK FALLS BELOW MA5 - Capital Street FX

31-May
19:45 IST

Costco Wholesale’s stock is currently trading at 236.68-lower by 2.01% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 1.76%. The stock has continued falling after the opening bell.

The warehouse company on Thursday reported fiscal third-quarter profit that was above the market expectation. Costco reported EPS (excluding one-time items) of $1.89, beating the market expectation by 7 cents a share. The company brought in 34.74 billion in revenue for the quarter ended 12th May. The revenue was above the consensus estimates of 34.65 billion.

The warehouse company saw a 5.6% rise in overall comparable-store sales (excluding the impact of currency changes and fuel prices). Comparable–store sales growth was above the consensus estimates of 5.48%. Costco also said it would tackle the proposed round of tariffs on Chinese imports by sourcing goods from other countries and possible price hikes.

On the technical front, the RSI is currently at 35.33% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the lower band of the Bollinger Bands and is heading downwards.

 

TRADE SUGGESTION- LIMIT SELL AT 236.95 TAKE PROFIT AT 235.55 STOP LOSS AT 237.65

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