Market wide we are seeing massive dips on big names - and obviously the same here for LULU. I am posting this updated analysis while on vacation (apologies for the bad sound and mouse work as I am working on the fly) because I know many are following my analysis on this name and I'd love for everyone to keep an eye on the macro point of view which is always important when we're in a choppy and especially a bearish macro market.
Levels I identified here are all aiming toward us reaching for that $270 demand zone which would ideally bring us some much needed buying momentum heading into earnings. I would not be surprised if we dip there even with a good earnings report considering market-wide we're seeing bearish pressure and people are waiting for opportunities at lower levels to start building a stronger position in companies like LULU.
Happy Trading all :)
Levels I identified here are all aiming toward us reaching for that $270 demand zone which would ideally bring us some much needed buying momentum heading into earnings. I would not be surprised if we dip there even with a good earnings report considering market-wide we're seeing bearish pressure and people are waiting for opportunities at lower levels to start building a stronger position in companies like LULU.
Happy Trading all :)
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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.