LULU - upside to resumeAfter hitting a low of 270 in early March, LULU began a rebound that soon hit into resistence between 316-320 and pretty much gyrate between 300-320 till 9th April when it finally broke above this resistence.
However it soon stall a few days later and then "crashed" all the way back to test 316 on Tuesday and rebounded strongly from there the next day (ie yesterday). A break above resistence and then a retest of this level a few days later has now establised that the resistence has now turned into a support.
The odds of LULU continuing the uptrend is good (plus RSI is still above 50) with new found support around 314-316.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
LULU trade ideas
LULU breakout level!LULU is squeezing on multiple time frames and is getting ready to fire. We are also in a wolf wave pattern with a price target of 350.70 (green dotted line). Today, it formed a doji after a full body candle on the previous day which signals a bullish uptrend ahead of its earnings. We might see LULU get into the earnings run soon!
Looking for this wolf wave to pan out in the next couple weeks. If you're planning on getting into this option trade, I'd go 2-3 weeks out. I'll update this as we go.
Suggested contracts:
LULU 4/30 350C @ 1.25
LULU 4/30 340C @ 2.40
$200 jogging pants I have a 345 april 30 call set to expire, this thing decided to actually participate in the free money chase to the upper right quadrant. What a turd after earnings. record quarter and the street got all pissy about guidance. So then tell me why the S&P hits a new record daily, d bags. PT 360 would be nice, but will take 353. nobody going back to the office, just buy another pair of this elitist crap and get me a win finally.
$LULU with a Neutral outlook following its earnings #Stocks
The PEAD projected a Neutral outlook for $LULU after a Negative Under reaction following its earnings release placing the stock in drift D
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Pull Back FishingLooks like some were not happy with earnings.
There was a possible head and shoulders pattern prior to the deep pull back.
Now there is a falling wedge which can be bullish when price breaks up and out of the upper trendline. A falling wedge slopes against the trend and converges at the apex. LULU has not broken upper trendline of the wedge.
The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern.
The differentiating factor that separates the continuation and reversal pattern is the direction of the trend when the falling wedge appears. A falling wedge is a continuation pattern if it appears in an uptrend and is a reversal pattern when it appears in a downtrend.
Falling wedges are formed
No recommendation
Turning point for Lululemon nowlululemon
Why it was founded?
Founder Chip Wilson heard people talking about yoga 3 times at 3 different places, that thing will become a trend. #principleofthree
Why it will become success?
a. unique, low cost and sticky marketing technique - community marketing (Yoga teacher=brand ambassador)
b. good quality cloth technique - seamless sewing machine from Japan
c. Combine of two unique items - Athlete + style; healthy lifestyle that is getting trendy nowadays, and people needs style when doing exercise.
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Technically, it broke out from range 40-80, climbing up on the uptrend channel, and it is forming a reversal (look like M shape reversal?).
However, Mar 2020, it fell sharply due to pandemic, Mar 2021, it has rebounded strongly within a month.
Will it
A) continue to renounce and reject the M reversal?, or
B) unable to break resistance and trend down?