Costco levels up 1.78% in Friday's session; traders eye opening bell in 19 hours time

A quick look at Friday: Costco rallied 1.78% and ended the session at $499.06.

Costco chart analysis: Costco is $2.25 away from testing key resistance at $501.31. Peaking above this level could inspire market bulls and open the path to further gains. Concerning technical analysis and more specifically, trend indicators, Costco made an initial breakout above its 21 day Simple Moving Average at $496.93, a potential indicator of a newly emerging bullish phase. Fibonacci-focused traders would be interested to note that Costco is oscillating around the key Fibonacci resistance level of $495.27. Analysis based on the asset volatility indicates that Bollinger Band® analysis indicates that current price action is approaching the upper band at $509.48, thereby suggesting that Costco is becoming overvalued.

Overall, while Costco has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

A look at other consumer staples stocks also showed bullish price action as Philip Morris International added 1.25% to its value, and traded at $95.56. Walmart traded at $151.77 after closing Friday's trading day at $150.47 (up 0.86%).

While Costco was bullish Friday, the following consumer staples stocks underperformed: Anheuser-Busch went down 1.62%, closed at $65.9.

The stock has been trending positively for about a month. The wholesale giant has managed to gain 10.3% so far this year despite trading at lows around $416.43 previously.