What's Going On With Costco Shares Thursday?

Shares of Costco Wholesale Corp (NASDAQ:COST) are moving higher on Thursday after the company released its sales results for September.

What To Know: Costco reported net sales for the retail month of September, which includes the five weeks ended Oct. 5. The membership-based retailer said net sales climbed 8% year-over-year to $26.58 billion during the five-week period.

Costco said total company comparable sales were up 5.7% year-over-year in September as U.S. comparable sales climbed 5.1%, Canada comparable sales increased 6.3% and other international comparable sales jumped 8.5%.

The company noted that its comparable sales last year benefitted by approximately 2% in the U.S. and 1.5% worldwide due to abnormal consumer activity associated with Hurricane Helene and port strikes.

Costco said its digitally-enabled sales were up 26.1% on a year-over-year basis. The company currently operates 914 warehouses, including 629 in the U.S.

COST Analysis: Costco stock shows a solid uptrend, with recent price action confirming higher highs and higher lows. The RSI is calculated at 62.45, suggesting the stock is approaching overbought territory but not yet there.

The MACD is bullish, with the signal line at 12.50 and the MACD line at 15.00, indicating positive momentum. A potential ascending triangle pattern is forming, with the upper boundary at $935.00 and the lower boundary around $914.80, hinting at a possible breakout if the stock can maintain momentum.

Overall, the market structure supports a bullish outlook, but lower volume on Thursday suggests caution as the stock approaches key resistance.

Benzinga Edge rankings show moderate fundamentals, with a Value ranking of 33.49, a Growth ranking of 57.42, a Quality ranking of 77.64 and a Momentum ranking of 24.67, per Benzinga data.

COST Price Action: Costco shares were up 1.34% at $927.10 at the time of publication on Thursday, according to Benzinga Pro.

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