33L trade ideas
LULU Bullish Ascending TriangleReally nice bullish ascending triangle has formed on LULU. We just has a strong bounce off bottom support line and I believe the price will climb back up to 385 from here and then will attempt to breakout of the triangle. Price may hit resistance at this level however, If a breakout does occur I am confident LULU will hit new all time highs---$400+.
LULU target 540, if local low holdsIf this low can hold, or we see some consolidation, could potentially begin the wave 3 move to the upside from here, target for the 5 wave cycle is 540.
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Copyright Rohan Karunaratne 2021
LULU -- waiting for pullback to enter longI 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 to enter long a month or two out with some call debit spreads. If the pullback comes, I'll watch for the trend support line to hold, adding to any positions if it holds and some consolidation builds, strengthening corrective A B C count as valid.
Game plan: let (hope) for a slight pull back here. Long term, I think LULU can have a nice stretch up to the $480 price range if a full impulse wave plays out through wave v. My first targets up will be 386 and 407. I'll be bullish above 355. Invalidation / potential corrective pattern fully playing out if price goes below 345.
LULU - Trade setupI like this support area bounce and run here. I have 2 exits you can play too here. Wait for tomorrow and a break of the entry to get in. No need to be first in just don't be last out. Not a bad option play can make some nice coin on this trade if you don't have the money for shares. Buy at the money options, don't go buying 58 strikes out of the money and asking why I didn't make much money on the trade. 2 or 3 week out option is fine. One week might not be enough time.
LULU Bullish Ascending TriangleReally nice bullish ascending triangle has formed on LULU. I believe the price will easily climb back up to 385 from here and then I will be watching for a breakout of the triangle. Price may hit resistance at this level however, If a breakout does occur I am confident LULU will hit new all time highs. Also, a nice bullish pennant has formed on the 15 min chart which further supports upwards price action in the short-term.
Long LULUlong term hold here, but would use some options to reduce cost basis
Likely will just buy 1 call leap in my retirement portfolio - just set it and forget it
Haven't checked option prices yet but technical set up looks good
Fundamentally great company, people love their products and price point - fitness industry is only growing and the pandemic likely would have made people reflect on the state of their well-being (just my assumption) but appears that the pandemic didn't have a major effect on this retailer
$LULU TA for a freind (Not a strong setup)I don't really see a good setup but a friend asked for TA... Only thing I see is a buff weekly support & it is trending in a narrow channel. I can't find any other indicators to support opening a long position (RSI, MACD, TD sequential etc.) Price is near 50 & 100 day SMA NASDAQ:LULU