Costco Wholesale (COST - Get Report) operates warehouses that offer members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. This stock is trading up 3.7% at $103.34 in recent trading.
Today's Volume: 3.4 millionAverage Volume: 1.6 million Volume % Change: 283% Shares of COST are moving notably higher today after the company said a membership fee hike last year contributed to better-than-expected fourth-quarter earnings. >>Buffett's "Secret" Reveals 5 Stocsk to Buy From a technical perspective, COST is trending up here with above-average volume. This move has started to push COST into near-term breakout territory, since the stock is challenging some overhead resistance levels at $102.40 to $103.51. At last check, COST has hit an intraday high of $104.43 and volume is well above its three-month average action of 1.6 million shares. Traders should now look for long-biased trades in COST as long as it's trending above $102.40 to $103.51 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.6 million shares as bullish. If COST can maintain that trend, then this stock will have a great chance of trending north of $110 in the near future. Keep in mind that today's action has pushed COST into new 52-week-high territory, which is bullish technical price action. Costco is one of Warren Buffett's holdings as of the most recently reported period.