Bull Flag Breakout Shaping up for Relative Strength Retailer Giant
Costco (COST) shares of the top retailer are staying strong and forming a bull flag above 1000 as the recent rally from lows led the market higher with Costco being one of the names that did now close below its March lows during the April panic. COST now above its one year value area high and a breakout from this flag can target the prior VPOC near 1050 on the volume profile. This week Costco reported solid April sales comps of +6.7% with Ecommerce +13%.