(Finance) – Undertone Costco Wholesalewhich changes hands with a drop of 2.21%.
The large-scale discount retail giant reported its first decline in sales since April 2020 in March. For the five weeks to April 2, Costco announced net sales growth of 0.5% annually to 21, 71 billion dollars. On a like-for-like basis, however, the figure shows a decrease of 1.1% on an annual basis.
The technical scenario seen in one week of the title compared to the index NASDAQ 100shows a slowdown in the trend of manager of a number of hypermarket chains compared toindex of US technology stocksmaking the stock a potential target for investors to sell.
The short-term technical framework of Costco Wholesale shows an upward acceleration of the curve with a target identified at 489.1 USD. Risk of a fall to 480.3 which will not affect the good health of the current trend but which represents a temporary correction. Expectations are for an extension of the uptrendline towards 497.8.