Lululemon Swing Idea
Lululemon is ready to continue running after recent positive earnings imo.
- Double bottom at $282 support level
- Positive earnings call on 3/29
- Strong Balance Sheet
- Increased Relative Volume with bullish selloff after initial pop.
- PEG Pattern (maybe not enough accumulation leading up to earnings)
- 200day ema support
- Recent insider buying
- Bull Flag formed
- Next pop to $406 level for ~12% swing. Could go higher if volume increases.
- Using 200day ema and $354 as risk level
- Double bottom at $282 support level
- Positive earnings call on 3/29
- Strong Balance Sheet
- Increased Relative Volume with bullish selloff after initial pop.
- PEG Pattern (maybe not enough accumulation leading up to earnings)
- 200day ema support
- Recent insider buying
- Bull Flag formed
- Next pop to $406 level for ~12% swing. Could go higher if volume increases.
- Using 200day ema and $354 as risk level
Note
Will be watching closely this coming week. Trade could go either way.
If market conditions are good after CPI numbers, I feel bullish breakout could occur.
If market conditions are not good, this may easily return to $320 area.
I will take a position based on market conditions.
Looking for a riskier starter position at $372 with tight stop loss.
Loading the boat above $384.
Cheers.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.