Costco posts record single day jump of $20.71 (+4.26%)

Costco posts record single day jump of $20.71 (+4.26%)

The wholesale giant traded at $507.26 Friday, after making its biggest single-day jump of $20.71 (4.26%) since Jan 23.

Costco made an initial breakout above its 200 day Simple Moving Average at $496.78, a potential indicator of a newly emerging bullish phase. Crossed the $497.9 Fibonacci level, next level is at $507.26. On the other hand, note that Costco could be slowing down soon as it approaches resistance at $517.3. Of course, crossing it might suggest further gains are ahead. Costco's upper Bollinger Band® is at $510, this is a slight indication of a slowdown.

According to technical analysis, it looks as if Costco likely to continue pointing upward in the short term.

This rally in Costco's share price coincided with other consumer staples stocks as Anheuser-Busch traded at $57.15 after closing Friday's trading day at $56.87 (up 0.49%). Walmart gained 0.18%, as it traded at $146.42.

While Costco was bullish Friday, the following consumer staples stocks underperformed: Coca-Cola lost 0.25% Friday and closed at $60.26.

Trading mostly sideways for a month. This year has been a bright one for the wholesale company after trading as low as $446.69 and going on to appreciate by 12.48% year to date.

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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DraftKings traders look to claw back Monday's 1.2% decline to maintain ongoing trend

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