Golden little eggs: wholesale is rubbing its hands in the U.S.Costco Wholesale CorporationBATS:COSTActivTradesIon Jauregui – ActivTrades Analyst Consumption in the U.S. is surprising once again, and this time it comes with a taste of chocolate. Easter spending is set to reach a new record in 2026, hitting $24.9 billion, up 5.5% from the previous year. Each consumer will spend around $195.6 on average, confirming that even in an environment of inflation and high interest rates, consumption continues to show notable resilience. The key data point is clear: 92% of spending goes to sweets, and this is where the real silent winner emerges: the wholesale sector. Companies like Costco Wholesale, BJ’s Wholesale Club and Walmart are perfectly positioned to capture this momentum. Their model, based on volume, competitive pricing, and seasonal campaigns, allows them to maximize revenue during key moments of the calendar. But this is not just about a seasonal campaign. Wholesale reflects a structural shift in the U.S. consumer: greater price sensitivity, bulk purchasing, and loyalty through membership models. In this environment, Costco stands out for operational efficiency and margins, BJ’s is gaining traction in regional niches, and Walmart continues to dominate through scale and logistical strength. Technical analysis: three structures, one capital flow Costco maintains a bullish long-term structure, after rebounding from its January lows at $842.91. Price is moving within a long-term range between $941 and $1,013, with a positive Mansfield confirming institutional inflows. In the short term, RSI remains neutral and MACD is in a corrective phase, while the 50, 100, and 200 moving averages remain aligned to the upside. The recent loss of the 50-day average does not invalidate the trend as long as price holds above the 100-day; in that case, the main scenario remains a move toward the $1,000 area. A break below this support would open the door to a test of the 200-day average. Walmart presents a more defensive profile, with a consolidated uptrend and lower volatility. After reaching highs at $134.69, price has entered a consolidation phase between that level and $115, with a point of control around $118. The compression of the 50 and 100 moving averages suggests accumulation. RSI remains neutral, MACD is in correction, but Mansfield stays positive in the long term, reinforcing its role as a defensive asset within retail. BJ’s Wholesale Club, on the other hand, shows a more irregular structure. Since 2025, the stock has been trading in a wide range, with tops around $46–47 and a point of control near $35. It currently shows a negative Mansfield and a corrective bias, although with signs of stabilization in RSI and a MACD attempting to turn higher. The key scenario depends on reclaiming moving averages: if the recent bearish structure is invalidated, a breakout move could follow; otherwise, a test of the lows around $28 cannot be ruled out. Finally, it is worth noting that the ActivTrades US Market Pulse indicator is signaling neutrality with a bias toward risk-off, which could lead to partial profit-taking at some point during the quarter in such a volatile market environment. Rotation into retail: smart money in motion While the market remains focused on technology, capital is beginning to rotate toward more predictable businesses. In a macro environment marked by uncertainty, wholesale retail offers stable cash flow, recurring demand, and lower volatility, characteristics increasingly valued by institutional investors. In 2026, the message is clear: the “golden eggs” are not just in consumption, but in those who know how to capture it with trend, volume, and discipline. ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance and forecasting are not a synonym of a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk. Political risk is unpredictable. Central bank actions can vary. Platform tools do not guarantee success.