1. COST shares dropped almost 3% due to disappointing earnings report. 2. Traders anticipate a possible reversal if share prices near $885. 3. Previous support levels at $885 may trigger buy orders again. 4. Stocks are considered oversold, attracting potential buyers for a reversal. 5. MACD indicator suggests a possible buying opportunity if patterns repeat.
The anticipation of a price reversal, supported by historical patterns, could positively impact investor sentiment and buying activity. For instance, similar rebounds occurred after price drops in March and July.
The article discusses current price action and trading sentiment which directly relates to COST and can significantly impact its trading behavior.
The price levels mentioned, like $885, are immediate and suggest a quick potential reversal. Similar past instances have shown reversal trends within weeks.