Costco Stock At 52-Week High: Still Time To Buy?
Portfolio Pulse from Surbhi Jain
Costco Wholesale Corp (NASDAQ:COST) has reached a 52-week high, trading at $870 per share. The stock has gained 71.22% over the past year and 31.81% year-to-date. Technical indicators suggest a strong bullish trend, with the stock trading above its 5-, 20-, and 50-day EMAs. Analysts have an average price target of $911.67, indicating further upside potential. However, the RSI of 74.87 suggests the stock is overbought, which could lead to short-term corrections.
June 20, 2024 | 6:48 pm
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Costco Wholesale Corp (NASDAQ:COST) has reached a 52-week high, trading at $870 per share. The stock has gained 71.22% over the past year and 31.81% year-to-date. Technical indicators suggest a strong bullish trend, with the stock trading above its 5-, 20-, and 50-day EMAs. Analysts have an average price target of $911.67, indicating further upside potential. However, the RSI of 74.87 suggests the stock is overbought, which could lead to short-term corrections.
Costco's stock has shown significant gains and is supported by strong technical indicators, suggesting a continued bullish trend. Analysts' price targets indicate further upside potential. However, the high RSI suggests the stock is overbought, which could lead to short-term corrections.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100