Costco Wholesale Corporation (COST) advanced slightly in its latest intraday trading, attempting to recover part of its previous losses. However, the move stalled as it touched resistance at the 50-day SMA, forcing the stock to retreat and trim its early gains. The short-term corrective downtrend remains dominant, with price action moving along a descending trendline, while RSI indicators continue to flash negative signals despite being in oversold territory.

Therefore, we expect the stock to decline in the upcoming sessions, as long as resistance holds at 974.00, with the next target set at the key support level of 925.00.

Todays price forecast: Bearish.