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Costco Sharply Lower After Q4 Report

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Costco Wholesale Corporation (NASDAQ: COST) shares are trading lower by $9.50 at $157.57 in Friday's session.

After Thursday's close, the company reported an EPS beat of 6 cents along with sales beat of $700 million. Although it was a beat, it was not big enough to sustain the rally the stock has had since it bottomed on Aug. 25 at $150.06.

After a much lower open, Costco had a brief rally to $159.46 before continuing its move lower. It has continued to make lows for the session, with the current one standing at $157.00 as of 10:47 a.m. EST. That low coincides with its Sept. 11 low of $157.06.

If the decline continues, the daily support level doesn't come in until its Sept. 8 low of $155.03.

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