Thoughts on Luluemon
I think the next level of long term support is at the 42-43 level. Every gap down on earnings and bad news has been sold off on high volume with levels of support being broken solidly, the stock is well below its moving averages. I think this is really a wait and see story here if not a short with a stop at the $52 level. Need to wait and see how volume and price reacts this week to the news to see actionable areas to trade off of. I literally have no clue where to go from here but I will definitely buy in at the $43 range
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.