LULU trade ideas
Is the bottom printed or more to go?Many bottom fishers tried their best, but last 6 months the price proved them wrong. U don't catch a falling knife. Hard to believe technicians of which I am one of them, but when u employ a system of numbers I mean combination of technical indicators plus fundamental indicators--and both tell you "We are on the same page" you don't hesitate. Now, the question is Is the bottom printed? The answer depends on what you believe about the company and if the stock is cheap both fundamentally and technically. As to technical point of view, it seems the stock's free fall is not over last gap filled which may even give some short sellers enough reason to stay tight, but recent 3-white solders may have given candlestick pattern traders to believe a bottom is within sight, but that did not last that long though volume was above average..this bullish pattern was followed by a bearish pattern (Flag) which got its measured target price once price broke the ascending support line of the bearish pattern.. Best to hope now is sideways and price's recent recovery was weak and needs to prove that a new believable reversal in under way. No position, but may soon start one.
LULUI really don't like their fabric these days. I think they cheaped it up for the sake of their margins to make up for the fact that growth was slowing. I also think they'll be losing customers because of them. I gave them a second chance, but the pair I bought a few months ago does not compare to my unworn leggings from 5 years ago. That said, there could be a Gartley here and perhaps a Crab as well. This is a hold your nose, shut your eyes and dive kinda play.
200 ,50 , 20 MA will protect the stock to go up againfrom the chart seems like LULU will resume up trend 200, 50, 20 now protect the bulls with 2 Days DOJis , we are in the right place to buy and we will buy more in case touched 70.70 toward 78 again , we would suggest 18 Oct Call strike 77.5 @ 0.41 now
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LULU Short I thinkSo i know there was this huge sell off, we're oversold and we could stabilize, but I sure as heck am not going to catch a falling knife. 15min into the day tomorrow, if it's heading down I'm riding it short to 61.60. After that I'll wait to see if there is a bounce or not.
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