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Actionable news in COST: Costco Wholesale Corporation,

Here's Why Costco Is Vulnerable Right Now

Shares of Costco (COST - Get Report) are on the verge of a damaging breakdown. The stock closed Friday with a 2.2% decline, reaching new April lows in the process. Selling pressure on the decline was well above average with the help of a downgrade from Wolfe Research.

In the near term, Costco is in a very vulnerable position. For patient investors, much lower entry levels may be just around the corner.

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Costco has been trading in a rather tight range since late February . As March began, the stock survived a very aggressive selling wave that could have potentially sparked a deep pullback. Costco held in very well near the $147 area, was able to mount a rebound but made...