Lululemon Athletica ( NASDAQ:LULU ), the Vancouver-based apparel retailer, has announced the closure of its distribution center in Washington state by the end of the year, resulting in the layoff of over 100 employees. The company cited business optimization efforts as the reason behind the closure. According to a WARN notice filed with the state's Employment...
$LULU - Consumer Cyclical | Apparel Retail
breakout of year long bullish wedge pattern, retaking its 200MA, AVWAP from ATH and YTDH with higher lows since late may'22.
latest ER on 1/9 reports continual YoY growth for both EPs (+33%) and Sales (+29%)
Lulu is highly successful retailer.
It is a well know brand world-wide.
But it is obvious that stock price valuations is just too high.
A correction is imminent.
On the monthly chart, there is a text-book head and shoulder pattern.
Price action broke the neck to the downside.
If price close this month below neck area which is around 302 USD, things will...
Market just finished Full Elliot wave 1-5 and ABC correction, bounced off of a demand zone and we are expecting for it to retrace to 50% fib zone.
Entry:300
Invalidation:276
Target: 384
