Costco closed at $491.3 after losing 1.32% Friday

Friday at a glance: the wholesale company dropped 1.32% early on and traded close to the $491.3 level.

Trend analysis indicates that despite being in the red so far in the current trading session, Costco peaked above its 200 day Simple Moving Average around $499.24 — typically an early indicator of a new bullish trend beginning to emerge. Bearish sentiment was sufficient to push prices below the known Fib level of $494.98 serving as intraday support. According to asset volatility analysis, Costco's upper Bollinger Band® is at $500.47 which indicates a further downward move may follow. Costco's notable support and resistance levels: Costco could begin to recover as it approaches significant support, now $3.78 away from $487.52. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Costco has no clear-cut direction.

Costco was not the only decliner in the consumer staples sector; Diageo closed at $185.67 (down 1.2%). Unilever lost 0.98% Friday and closed at $53.58. Walmart decreases 0.68% Friday to close at $149.49.

The stock has been trending positively for about a month. This year has been a bright one for the wholesale company after trading as low as $416.43 and going on to appreciate by 8.27% year to date.