TechieTrades

$LULU H&S pattern closing on 100SMA.Expecting a bounce [RISKY]

NASDAQ:LULU   LULULEMON ATHLETICA INC
$LULU H&S pattern closing on 100SMA.Expecting a bounce

Comments

Thanks for TA. I figured head and shoulders are usually bearish so I went with it even though with low volume and exited with profit at first downtrend target price. Assuming market is doing ok do you think it will keep going down now or we will see uptrend?
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TechieTrades solijons1996
@solijons1996 the idea was actually neutral.. H&S pattern with neckline support on 100SMA. 100SMA are very much liked by MMs and buyers treating that as a buy zone. This idea negates if the stock breaks below the neckline support. Stars aligned :P and market was red today helped it to break that support.... still at key level can go either way. Next week should tell.
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