Costco May Witness A Big Jump After Earnings

Costco Wholesale COST is set to give its latest quarterly earnings report on Thursday after the closing bell, Costco will likely report an Earnings Per Share (EPS) of $2.61.

Costco bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.

Last quarter the company beat EPS by $0.33, which was followed by a 3.31% increase in the share price the next day.

The stock is currently forming a potential continuation pattern (Symmetrical Triangle) to be confirmed by the violation of the $543.00 resistance point. After the pattern being confirmed supported by a probable earnings beant, the price will likely hit the pattern's minimum target around $572.00 point.

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The stock has successfully hit the first target, waiting for the second one.