COST May 26 SetupCostco Wholesale CorporationNASDAQ:COSTBullBearInsightsBreakdown Has Control, But Price Is Sitting Near a Bounce-or-Fail Zone COST is showing a much weaker structure compared to the other momentum names. The 15-minute chart shows a clear breakdown from the recent highs near 1090, followed by a steady lower-high and lower-low structure. Price is now trading below both major moving averages, with the faster EMA curling down and acting as resistance. That tells me sellers are still in control short term. Every bounce attempt has been weak, and price is now compressing near the 1028–1030 area. RSI is trying to recover from oversold, but it is still below the stronger momentum zone. That means this could be a small relief bounce, but not a confirmed reversal yet. The key level on the chart is 1035. If COST cannot reclaim 1035, the bearish structure remains active. A clean break below 1025 would likely open the door toward 1020, then 1000. Now adding GEX into the picture, the downside risk is still important. Calls are light, and GEX is negative, which means dealer positioning is not giving strong support to the upside right now. The main resistance areas are 1050, 1065, 1070, and 1100. That lines up with the chart because COST needs to reclaim 1050 before buyers can repair the structure. On the downside, the bigger put wall is near 1000, with additional downside levels around 990 and 980. If 1025 fails, price may start moving toward that 1000 magnet. Key Levels to Watch Resistance: 1035, 1050, 1065, 1070, 1100 Support: 1025, 1020, 1000, 990, 980 Bullish Scenario If COST reclaims 1035 and holds above it, buyers may attempt a recovery bounce toward 1050. A stronger reversal only starts if COST can reclaim 1050 with volume. Until then, the bounce is still just a relief move inside a bearish structure. Bearish Scenario If COST loses 1025, sellers stay in control and the next downside target becomes 1020 first, then 1000. If 1000 breaks, the GEX chart shows room toward 990 and 980. My Thought COST is not a strong bullish setup right now. It is sitting near a possible short-term bounce zone, but the trend still favors sellers until price reclaims 1035 and 1050. For me, the clean setup is simple: Above 1035, COST can bounce toward 1050. Above 1050, COST starts to repair the chart. Below 1025, COST can continue lower toward 1020 and 1000. Until then, this is a weak chart trying to stabilize, not a confirmed reversal yet.