rudcharts

LULU 3/20/2023

Short
rudcharts Updated   
NASDAQ:LULU   lululemon athletica inc.
The ladies love their overpriced leggings, but the stock market doesn’t.

LULU Daily chart analysis.

Their uptrend started March 2018 and came to an end December 2021.
Price has since been moving side-ways in a Distribution stage in form of a Head and Shoulders pattern. We need is break of neckline before price enters downtrend.

Entering trade short

Entry: 281.00
Stop loss: 339.34, (-16.61%)
Target: 161.74, +44.42%, 2.67 RR ratio
Trade closed: stop reached:
Stop loss: 339.34, (-16.61%)
Trade active:
Entry: 364.51
Stop: 394, (-8.09%)
Target: 161.75, (+55.63%), 6.88 RR ratio

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