1LUL trade ideas
Options trade LULU LULU has been on tear lately but a bit under analyst average price ratings.
It has had a double top and broke though it.
I did an options trade for expiry date of Dec 18th, 2020, 1 contract call option at strike price of $350.
If I watch the share price continue to rise, I will keep the option until such time that momentum dies down and it starts to dip. I am keeping an eye out for the earnings in August as well. I am thinking it will reach 340ish and start to dip a little bit.
LULU - Breakout$LULU
Flag and rectangle breakout.
I will place a buy above rectangle box around 326 for a 25 $ move minimum being height of box.
If results are good during this move then flag target possible. Another 50 to 25 $
on the whole a good setup.
Also check out ABT. similar looking chart setup.
LULU Potential Long SetupLULU longs fought hard to take out that 325 level, and their award is a new base of support. As LULU consolidates over 325, it could possibly see a strong upward move to confluency at 350. The moving averages are in consensus for an upside move.
Fundamentally, LULU is undervalued at current prices, with new analyst price targets showing a $355 estimate.
Bulls need to hold 325 for this move to sustain.
LULU Potential BreakoutLULU has had quite a run since March and has hit my scan based on the consolidation phase. A break past the orange horizontal line with confirmation volume could indicated a price target potential of ~ +8-10%. With low IV, debit call spreads may be a trade that I execute upon price & volume confirmation.
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Lulu long 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 close after big movement, cosolation, next move could be strong, neutral signal
20 SMA: Trend is moving above, bullish signal
50 SMA: Trend is moving under, bearish signal (works as resistance)
200 SMA: Wide above, bullish signal
MACD: Close to 7, Neutral signal
RSI: Close to 80, oversold (is normal in up-trend)
Volume: neutral, no signal
Option play:
Sell put 232 $, 272 $
buy call 330 $
Swing trade:
Trade the swings in consolation channel
Long-Term:
Wait for pull back on 284/290 support, or wait for breaking through ATH after 325 $ mark
Good luck for you trading :)