Costco is in the Wyckoff distribution phase

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This Week (July 8 - 11):

Support: The immediate floor is at $965. Below that, the low from the initial sell-off around $955 is critical.

Resistance: The 20-day moving average (that green line) at ~$992 is the first ceiling. If it gets frisky, look for sellers to appear at $1,030.

Next Month (July):

Support: If $955 breaks, this whole structure fails. The next major stop would be the April lows around $872. That's the edge of the cliff.

Resistance: The all-time high of $1,067 is the ultimate party zone that the bouncers (sellers) are not letting anyone back into right now.

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