A rounded top has formed on LULU
Completing this rounded top leaves price at around 190 - 200$
Following the rounded top a recovery ensues which is normally quite strong
LULU getting near base breakout. If market stays strong next week, LULU can breakout over 313. Keep in mind that market is extended for now. So risk is elevated for longs here compared to last 2 weeks.
AUG 5 220C can work
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
🍋 LULU Trade Plan (5/25)-(6/4) 👧
📈 Long Above 316.75
🎯 TGT near 319-320, 322-323
❌SL 314.30
📉 Short Below 314.30
🎯 TGT near 312.60, 310.40, 307.70
❌SL 315.90
✅Trend Line Confluence from March 2021 Lows.
✅Earnings Report coming up on June 3rd.
LULU is squeezing on multiple time frames and is getting ready to fire. We are also in a wolf wave pattern with a price target of 350.70 (green dotted line). Today, it formed a doji after a full body candle on the previous day which signals a bullish uptrend ahead of its earnings. We might see LULU get into the earnings run soon!
Looking for this wolf wave to pan...
I like LULU, and so does all the gym goers and yoga goers especially if COVID restrictions start to loosen up over the next month or two approaching spring and summer.
Long term I like LULU long, but for now, I'm going to be patient and wait for a slight pullback to a better demand buying level. If we can get a pullback A B C pattern back to the 350's, I'll look...
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I would also appreciate it if you could leave a comment below with some original insight.
In this post, I will be providing an in-depth analysis on Lulu Lemon Atheletica Inc. (LULU), by going over its business model, financials, and technicals as well.
What is...
Clear uptrend Support with an Ascending Triangle formed within.
Target price set at a new potential resistance line.
I suggest entering with a Buy Limit order. If limit is not triggered, I wouldn't chase the run.
- Historical uptrend
- RSI + Stoch well above 50
- MACD above Signal.
Suggested Entry $332.94
Suggested Stop Loss $326.66
Target price $361.20
Note...
Here is an easy ta for Lulu long:
As you can see easly- Lulu in up-trend. Stock had high volume compared with strong move to 325 § mark, bounced off and since that consolation.
We have support on 284 $ Mark (S1) and resistance on 325 $ mark (S2). You can identify this as a consolation zone, so next step should be a clear break through ATH.
Indicators:
BB: Are...
Will watch LULU tomorrow and see what kind of action happens. Think if it holds this demand it currently is in, which aligns with .32 fib retrace, possibly a good opportunity to grab some calls for the upside for wave “c.”
If current demand fails, will wait for it to drift down to next level demand. If gaps up in the overnight, like this market seemingly likes...
