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Lululemon Athletica

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LULU trade ideas

LULULEMON ($LULU) 👖 | Is Becky's portfolio about to take a dip?📊🧐 Analysts have low expectations for Lululemon earnings this quarter, but the chart and other factors (like its expansion into international markets) point to high hopes moving forward. In the chart, we take a look at some levels for LULU and compare its strength to the S&P (White) to show how recent weakness and divergence from the broader market's uptrend could result in us eventually retesting support before making another attempt at highs. Support. The S1 orderblock is the target for LULU bulls if we see a correction for LULU instead of an immediate uptrend. Despite potential outlooks for future quarters, the COVID quarter earnings are unlikely to instill greed, so a correction may just be in order from that perspective alone. Below that we have the S2 and S3 bullish S/R flips, both of which could act support if S1 doesn't hold. Resistance. R1 is the main resistance on the chart. The R1 range highs aside, the current range may also end up acting as resistance if we do move down to S1 or lower. Summary. The bull case for LULU still makes sense. However, it'll take a really great outlook and perhaps an earnings beat to have the market disregard what is likely to be an underwhelming earnings report and push LULU to new highs. Given the short term weakness on the chart and expected weakness in earnings, the bulls will probably want to focus effort on defending support rather than trying to FOMO into earnings. Resources: www.earningswhispers.com + www.barrons.com + www.modernretail.co ✨Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉
NASDAQ:LULU
by AlphaBotSystem
lulu is severly overbought we can see this name sliced throught the 1.27 retrace fib like butter. on a normal circumstances that should of at least act as resistance but the market didnt care and it kept going up even at severely overbought levels. now its touching the 1.41 retracement about 323 and it got rejected. we dont know if this name will keep going up the the next fib level since the market is completly detached from reality. it is not of my interest to call the top , but twe cant denie what we are seeing. if you want to lower risk, wait for it to fall bellow the 50d moving average to go short. make sure you use stop loss, and buy long date puts because the market its too dangerous to trade even at extremely overbought levels. good luck
NASDAQ:LULUShort
by Todopoderoso
LULUAnother one I'm watching today. LULU is just hanging out chopping up and down trying to figure out where to go. For this one, falling out from a previous wedge, my bias is to the upside ... eventually. Either 1) if we go to demand, I'd like to look for an entry long because generally after price breaks down from a wedge pattern, price action tends to retrace and backtest the wedge, with the wedge acting as resistance. Or 2) if we go straight back up to back test, just so happens that the back test area is in alignment with a supply zone. So, eventually I see LULU making its way back up to back test. If we go to demand zone below, I'll enter a small long with price target up to the supply zone. If we go up first to supply zone and back test, I'll watch as there is potential to re-enter the channel and go trough supply. My bias is to short once price enters supply.
NASDAQ:LULU
by PT_Marche
LULUWill 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 to do both up and down, will see what price does if it shoots to the upside price target / supply zone around the $215 area.
NASDAQ:LULU
by PT_Marche
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