2waytrading

Is the bottom printed or more to go?

NASDAQ:LULU   LULULEMON ATHLETICA INC
109 0 1
Many bottom fishers tried their best, but last 6 months the price proved them wrong. U don't catch a falling knife. Hard to believe technicians of which I am one of them, but when u employ a system of numbers I mean combination of technical indicators plus fundamental indicators--and both tell you "We are on the same page" you don't hesitate. Now, the question is Is the bottom printed? The answer depends on what you believe about the company and if the stock is cheap both fundamentally and technically. As to technical point of view, it seems the stock's free fall is not over last gap filled which may even give some short sellers enough reason to stay tight, but recent 3-white solders may have given candlestick pattern traders to believe a bottom is within sight, but that did not last that long though volume was above average..this bullish pattern was followed by a bearish pattern (Flag) which got its measured target price once price broke the ascending support line of the bearish pattern .. Best to hope now is sideways and price's recent recovery was weak and needs to prove that a new believable reversal in under way. No position, but may soon start one.
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