Break of structure /Change of Character
Break below lower high. When price goes from new Higher high + break of structure low = Changer of Character
Waited for pullback on 30min chart.
Brought puts on continuation lower than 30min pullback candle.
LULU finding some resistance within the Volume profile POC and showing a ROC Divergence here. The ROC showing lower high readings as LULU continues in the short term uptrend, a negative for any continuation here. Expecting a test of the VAL (286). I think this 286 wont be a strong support either and might see a stronger support at 250.
LULU has weakening momentum, a long term H&S and volume cueing in a downside move. You can see that historically, LULU likes to make H&S patterns with the neccessary retest at the end of the H&S slightly overextending the trendline before capitulating. Taking a long-term short for a few months out is my play of choice. A calandar spread is a good way to hedge but...
Earnings watch 6/2:
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A symmetrical triangle can be seen acting bullishly, pushing the price into a rising broadening wedge
I believe this wedge to be a bearish pattern, as I have indicated with the bars pattern (which is just a rough estimate of how a down move will persist)
Possible short entry 277 or below.
Earnings 6-2 AMC.
Short percent 2.52.
I love this stock but looks like LULU is going down with the ship for now. I will catch her at the bottom )o:
Possible stop above neckline or a level of resistance
If there were no luck involved I would win every time )o:
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...
-As we observed last week the beautiful breakout of that 349 level we immediately went right down AMAZING breakout trade
-Now we are heading down towards the next major support at 278.53... We shall look for the breakout of the minor support line at 306.60
-This is a daily set up so we can play this w monthly options or we can get in and out to manage risk
currently back to its extreme trend resistance, if it cannot hold the blood continues, but if we use trend resistance as support a big rally can follow.
long trigger at 335.04/short trigger 286.94
I will attach a chart with my vibranium algo targets :)
-I like to trade Lulu typically bc she’s usually a day behind so we can expect a break below 350.26 Monday and play puts from there
-There is a lot of range once we break these levels we have range down till 317 to where we might meet smack in the middle with the cloud
-looking for an entry once we break 350 support
- Price enters a change of character, then proceeds to break structure, forming a fresh level of supply.
- Price retraces down to form liquidity zones, breaks liquidity sweeps and retraces back into fresh discounted supply.
- This is exactly when I enter in on atm weekly puts.
Remember this is a weekly chart. Price retreated from 400 and I am not sure if stock price will remain so high after earnings, or going into mid-year.
Stock price can move substantially lower which will make a great swing trade. Options volume is low on this stock, and so is general stock volume. If you are not willing to hold for a few weeks for price to...
Lululemon ($LULU) has a double top, gap fill, and support as indicated. RSI is pointing down, MACD is starting to switch over.
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Wedge forming on daily right below 200 day MA. In my view, LULU's inability to take out the 200 day quickly shows weakness and could fall
apart next week. Weekly chart showing a gravestone doji, indicates a top of a trend; a sign of trapping longs. Either way, if it breaks higher 400; breaks lower 333.