Overview:

• Price Trend: COST fell from USD 1,021.50 to USD 982.51, with USD 980 emerging as a key support level.

• RSI Signal: The RSI stands at 41.47, which points to weak short-term momentum.

• Business Outlook: Fiscal 2026 net sales rose 10.2% to USD 297.3 billion, although valuation remains a key concern.

Costco Wholesale Corporation (NASDAQ: COST) traded at USD 982.51 on October 29, 2026, down USD 0.52, or 0.05%, at press time. Despite the small daily loss, the recent price trend shows greater weakness. COST has fallen from its October peak of USD 1,021.50 to the USD 982 area, which puts short-term support levels in focus.

The stock reached USD 1,021.50 on October 23, but buyers failed to hold that high. COST later reached USD 1,015.17 on October 24 and USD 1,006.27 on October 27. Each peak fell below the previous one, pointing to weaker buying pressure. By October 28, the share price had reached a low of USD 980.30 before a modest recovery.

The overnight price level stands at USD 994.99, well above the latest price of USD 982.51. COST must recover several nearby levels before the short-term outlook can improve. For now, the stock remains under pressure, and the next move near USD 980 may shape its immediate direction.

COST Price Trend Shows a Loss of Momentum

Costco shares rose from USD 942.57 near the start of the displayed period to USD 1,021.50 on October 23. The stock crossed USD 960, USD 970, and USD 990 during that advance, which showed strong demand across much of the period.

The trend changed after the October 23 peak. COST began to form lower highs and lost ground near the USD 1,000 mark. The stock fell to USD 993.03 around October 20, reached USD 988.41 around October 21, and later slipped to USD 980.30 on October 28. These price levels point to a shift in short-term control from buyers to sellers.

Still, COST trades close to its recent low rather than far below it. A firm hold above USD 980 could support a rebound toward USD 990. A move above USD 994.99 would offer a stronger sign of recovery. However, another fall below USD 980 could expose the stock to further losses.

Also Read - Here’s Why Costco’s Higher Dividend Pays Just $61 on a $10,000 Investment Each Year

RSI Points to Weak Short-Term Momentum

The Relative Strength Index (RSI) measures the speed and strength of recent price moves. COST has an RSI reading of 41.47, while its yellow average line stands at 41.20. Both values remain below the neutral mark of 50, which signals weak short-term momentum.

The RSI remains above 30, a level that traders often use to identify oversold conditions. This means the current reading does not yet point to an extreme oversold state. The indicator also rose from lower levels near October 28 before it eased again, hinting at a small improvement in momentum.

The narrow gap between the RSI and its average line offers little proof of a strong recovery. A move above 50 would suggest that buyers have gained more strength. A decline toward 30 would point to greater selling pressure. The RSI works best alongside price levels and volume, rather than as a stand-alone signal.

Key Support and Resistance Levels for COST Stock

The USD 980 to USD 985 range stands out as the main near-term support zone. COST reached USD 980.30 on October 28 and later traded near USD 982.51. If buyers defend this area, the stock may attempt a rebound. A clear break below USD 980 would weaken the chart and could lead to another leg down.

On the upside, USD 988 to USD 990 forms the first resistance area. COST must reclaim this range to ease the recent pressure. The next level sits at USD 994.99, followed by the psychological USD 1,000 mark. Above that, USD 1,006.27 marks a recent swing high, while USD 1,021.50 remains the key peak from October 23.

These levels offer a practical way to assess the next move. A recovery above USD 995 would improve the short-term setup, while a sustained move above USD 1,000 would offer firmer evidence of renewed demand. A break below USD 980 would favor the bearish view.

Strong Sales Support the Business, but Valuation Matters

Costco reported net sales of USD 297.3 billion for fiscal 2026, up 10.2% from USD 269.9 billion the year before. Fourth-quarter net sales came to USD 93.9 billion, an 11.3% rise from USD 84.4 billion a year earlier. Those numbers point to steady customer demand across the warehouse business.

Membership fees, bulk sales and a low-price strategy drive the model. Customers stock up on groceries, household supplies, electronics and other goods, and the high sales volume keeps the approach working, with membership income adding another revenue stream.

Strong sales don’t guarantee a higher share price, however. Investors also weigh profit growth, operating costs and what they’re paying for future earnings. Costco’s valuation leaves little room for weak results or slower growth, so the stock needs continued business strength to justify its premium.

Also Read - Costco vs Walmart Stock Analysis 2026: Which Should You Buy?

Final Outlook for Costco Stock

COST faces a key short-term test near USD 980 after its decline from USD 1,021.50. The RSI reading of 41.47 points to weak momentum, while the recent price action shows that sellers have held the upper hand. A move above USD 995 would improve the near-term picture, but a break below USD 980 would raise the risk of further weakness.

Costco's sales growth supports its long-term business case, yet its share price still needs to reflect future earnings and valuation risks. The most useful signal now will come from the stock's response near support and its ability to recover lost price levels. Until COST moves above nearby resistance, a cautious view of the short-term trend remains reasonable.

FAQs

1. What is the Costco share price today?

Costco (NASDAQ: COST) traded at USD 982.51 on October 29, 2026, according to the latest price data discussed in this analysis.

2. Why has Costco stock faced recent selling pressure?

COST fell from its October high of USD 1,021.50 as the stock formed lower highs and lost ground near USD 1,000.

3. What is the key support level for COST stock?

The USD 980 to USD 985 range serves as a key near-term support zone. A clear break below USD 980 could signal further weakness.

4. What does the RSI indicate for Costco stock?

The RSI stands at 41.47, below the neutral level of 50. This suggests weak short-term momentum, although the reading remains above the commonly used oversold threshold of 30.

5. Is Costco stock worth watching for investors?

Costco's fiscal 2026 net sales rose 10.2% to USD 297.3 billion. Investors should also assess valuation, earnings growth, and key price levels before making investment decisions.