LULU trade ideas
LULU - time to stakeLULU pulled back to 225 which is the 100% projection of the previous correction. Time to long @ 225+/- with a stop at 233 and looking to scale out at $248, $255 and $262 (100%, 121% and 168% fib extension respectively).
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.
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.
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.
LULU Breakout 186-193
LULU test support/resistance range 186-193 for 4 trading days.
YOY sales growth
Great Earning Result
Strong fundamentals
Good Product
If the stock can complete confirmation of breakout in the next trading days, its up for a run @ 196
Still cover your loss at 181.71 if market goes down due to Corona Virus.
Disclaimer:
This is just my idea as I want to share and learn from the community.
Please let me know your thought
LULU - H&S short setup LULU - Short alerted at 192.43 on Friday. Stop loss 196.53, Target 172.13. Target 2 163.66 Target 3 141.23.Earnings were fine but they failed to provide an update for guidance. What does that tell you! if i was long i would be selling , i am short so i will be holding. Holding $195 May puts. Still a possible trade using same options. Would look to take some profits on the way down.
Head and Shoulder on Hourly - Target 172 , Stop 197.54Taking profits on short position from yesterday and loading up on second trade.
Buying May $195 Puts- Insider sellingInsiders were selling in december before corona, stores closes in china and the US, 130 support WELL below current levels.
LULU nearing major trendlineIf NASDAQ:LULU breaks the black trend line above, next support would be at $207 and $189 for you shorts out there
Time to get a piece of the lemonLululemon has fallen the same distance as the previous large decline in late 2018. it's starting to look attractive again especially with such a bullish close. I will long with a stop below the last candle low and expect it to close some gaps along the way up. Scale out as it reach the fib levels up and with trailing stops too
LULU setting up for a crashLULU seems to be setting up for a crash, retracing most of what it's gained in the past year.
With earnings coming in a few weeks, I think it's time.
I expect it to hit 110, if not retrace all the way back to 90's
LULU 2. History lesson.So 1st wave on 14d chart back in the time of first Hyper Growth Period for LULU had 27 bars , and 2nd wave is somewhat 1/3 shorter.
Current 1st wave is counting 25 bars , and second is more then 2/3 of 25. so it should crack soon.
LULU OMG. This one is gonna crack. 14D , 2W chart... This is impressive for yoga pants company.. however it's a bubble.
watching to short as soon as divergence turns red.
Early BreakoutAscending Triangle breakout. The downtrend is broken, and hopefully this new ATH will turn into a model blue sky breakout!
Observation on LULU, upside breakout possible?DISCLAIMER: Already have a long position on LULU, possibly looking to add more on pullbacks.
Looking at the chart patterns it looks like a bull flag has developed on the 1, 5, and 15 minute charts. The price action is above the ichimoku cloud signalling a bullish move on the 1 and 5 minute charts. Looks like this could be preparing for a near term move to the upside once it breaks the bull flag channel.
Coupled with a good chart pattern developing, the price action has a good level of fundamentals as a company, LULU recently reported blowout numbers that were above expectations and adjusted guidance for the year upwards.
I am thinking on any pullbacks (10% or more) I'll probably add to the portfolio long term as LULU looks to be on par with NKE.
