Costco Wholesale Corporations stock price (COST) extended its gains in recent intraday trading, supported by a bounce off a medium-term ascending trendline, which provided bullish momentum and helped drive the stock higher. Positive signals are also emerging from Stochastic indicators after reaching extremely oversold levels. However, the stock remains under negative pressure as it continues to trade below its 50-day SMA, which may limit the strength of its recovery.

Therefore, we expect the stock price to rise in upcoming sessions, provided support holds at $925.00, with the next target at the key resistance level of $974.00.

Todays price forecast: Bullish.