Lululemon is ready to continue running after recent positive earnings imo.
- Double bottom at $282 support level
- Positive earnings call on 3/29
- Strong Balance Sheet
- Increased Relative Volume with bullish selloff after initial pop.
- PEG Pattern (maybe not enough accumulation leading up to earnings)
- 200day ema support
- Recent insider buying
- Bull Flag formed
- Next pop to $406 level for ~12% swing. Could go higher if volume increases.
- Using 200day ema and $354 as risk level
- Double bottom at $282 support level
- Positive earnings call on 3/29
- Strong Balance Sheet
- Increased Relative Volume with bullish selloff after initial pop.
- PEG Pattern (maybe not enough accumulation leading up to earnings)
- 200day ema support
- Recent insider buying
- Bull Flag formed
- Next pop to $406 level for ~12% swing. Could go higher if volume increases.
- Using 200day ema and $354 as risk level
Trade could go either way.
If market conditions are good after CPI numbers, I feel bullish breakout could occur.
If market conditions are not good, this may easily return to $320 area.
I will take a position based on market conditions.
Looking for a riskier starter position at $372 with tight stop loss.
Loading the boat above $384.
Cheers.