Costco slips lower, tests support, bearish pattern, levels to watch The stock is down 1.7% to $110.28 at time of writing, putting it just above the pivot low of late August at $110.19. The shares are trying to develop something of a bounce now off this area which it has touched several times this morning. Part of the reason for shoring up price at that area is that a move lower would trigger a double top pattern on the daily chart. For confirmation a move below $110 that sustains would be required to ensure that the pattern is viable. The measuring implications of the "M" top suggests downside to the $100 area would be possible if the pattern triggered and completed. Resistance is at $111.35.
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