Costco momentum is improving heading into November, says Katie Stockton
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(See the video above for Katie's complete chart breakdown.) Costco Wholesale (COST) has been range-bound for nearly two years, but momentum is improving within the neutral trading range. The secular bull trend remains intact, according to the monthly cloud model. The 200-day moving average now acts as initial support following a recent breakout above it, a positive technical catalyst. The next and final resistance level is the 2025 high near $1,078. COST shows no signs of upside exhaustion, differentiating it positively from many higher-beta stocks. In fact, the monthly stochastics have significant room to overbought territory. Intermediate-term momentum has recovered, with the weekly MACD now in positive territory. The same improvement is evident at the sector level. November has historically been COST's strongest month over both the past 10 and 25 years. COST has gained more than 7% in five of the past six Novembers and has not posted a November decline since 2008. Katie Stockton , CMT, is the Founder and Managing Partner of Fairlead Strategies. Access research from Fairlead Strategies for free here . DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, or its parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.