LULU rally Long to 475.03$ Price & Time analysis
Updated
As a professional trader with expertise in technical analysis and US stock trading, I confirm that the statement is accurate. As per a report by John Kernan of Cowen & Co. released yesterday, Lululemon Athletica has been assigned a Buy rating with a price target of $470.00. The stock closed at $313.45 last Friday.
Based on my technical analysis , I concur with the aforementioned assessment and most analysts who suggest an upward trend in the stock. For traders who prefer interval trading, our journey towards the target may encounter four strong price resistances and four weak secondary resistances, as detailed in the attached analysis. However, these resistances are expected to be breached eventually.
Regarding entry point, I recommend entering a buy trade if a candle opens above 321.99. The first, second, third and fourth profit-taking points are 360.19, 398.47, 436.75 and 475.03 respectively. I estimate the time required to reach the target of 475.03 to be 61 days or two months, which would be on 05-24-2023.
I wish everyone the best of luck.
Based on my technical analysis , I concur with the aforementioned assessment and most analysts who suggest an upward trend in the stock. For traders who prefer interval trading, our journey towards the target may encounter four strong price resistances and four weak secondary resistances, as detailed in the attached analysis. However, these resistances are expected to be breached eventually.
Regarding entry point, I recommend entering a buy trade if a candle opens above 321.99. The first, second, third and fourth profit-taking points are 360.19, 398.47, 436.75 and 475.03 respectively. I estimate the time required to reach the target of 475.03 to be 61 days or two months, which would be on 05-24-2023.
I wish everyone the best of luck.
Trade closed: target reached
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