(Finance) – Moves forward Costco Wholesale which is bringing home a modest +1.35%.
The department store giant reported net sales rising 9.4% in March to $23.48 billion. On a constant basis, sales increased by 7.7% per year. In the 31 weeks to April 7, sales increased by 6.4% annually to 146.64 billion dollars (5.2% at constant scope and 5.3% net of currencies and fuel costs).
The comparison of the title with theS&P 100on a weekly basis, shows the greatest relative strength of manager of a series of hypermarket chains compared to the index, highlighting the concrete attractiveness of the stock by buyers.
The medium-term technical status of Costco Wholesale remains negative. In the short term, however, we highlight an improvement in the bullish strength, with the curve meeting the first resistance area at 735.5 USD, while the supports are estimated at 726.7. The technical implications favor a new bullish trend with a target estimated probably in the 744.4 area.