LULU trade ideas
$lulubroke support, failed to break resistance, already high market cap subsequent to covid, can get low here
LULU in weekly oversold conditionsOther than the March 2020 crash, LULU only reached oversold weekly conditions in September of last year after which it rallied 25%. Will we see a similar bounce here? Will depend on strength in NASDAQ/QQQ.
LULU#LULU The accumulation triangle has been formed and broken (see the yellow circle). Since the ABCDE wave in the triangle is not fully formed, a retest is quite possible (shown by blue lines). The paper holds patterns and moving averages well. There are 3 growth targets - they are shown on the screen, the total growth goal is + 30%.
LULU 🌦
The majority of stocks follow a simple behavioural formula 👇
The formula is simple: impulse, correction, impulse, correction. In my opinion, you don't need traditional indicators like RSI and MACD. I understand different charts with inter-market analysis.
$LULU Lululemon Death Cross Sell Signal☠☠☠
Longs need to take great care in the days to come as the imminent death cross will put
immense pressure on the stock.
RSI is also in major decline and strong downtrend resistance.
Bulls will need to make a major move tomorrow to fight this off.
LULU at key resistance levelLULU needs to break above ~350 to show momentum and break of resistance (prior support in wedge) before we can call bullish. Even then, we will need to test the all-time high of 400 before going fully bullish. Until these points, anticipate downside or further horizontal movement...
$LULU RSI + SupportLululemon is at a strong support and RSI is oversold on the daily. Fundamentals are very strong for this company. This is when you buy, not sell - making money on the market is quite simple at the end of the day but most people just cannot think properly...
LULU over 342.43LULU fell out of a larger symmetrical triangle and has since rebounded from the lows and consolidated in a much smaller symmetrical triangle shown here. Entry over price action and key fibs, fibs and trendline will act as resistance above.
An Efficient Way to Make ALL Your Money Work For You!For options traders, there is a way to make ALL your capital work for you! Yes, you heard that right. Not sure what I mean? Keep reading...
You see, most options traders don't position size larger than 5% risk of capital...and most options traders don't put on more than 10 trades at a time. Making these assumptions, we can therefore conclude that you'll never use more than 50% of your capital towards buying power reduction.
This is a very inefficient use of your capital because that means half of it is just "sitting" capital (capital that doesn't go towards making money for you!). Solution you ask? Well, the solution is simple...just redeploy that capital elsewhere besides your trading account. For example, you can take that useless 50% capital lying around in your trading account, and put it into a savings account that say has a 2% annual interest rate...and voila!, now all your capital is being put to use! and you just gained an extra 1% return on capital annually!
I almost forgot to add...remember to position size as if trading capital were equal to the sum of the 2 accounts' values (trading & savings accs).
So for example, #units = 5% ( e1 + e2 ) / max loss per unit ....
e1 - represents trading account's value
e2 - represents savings account value
Hope this helps, enjoy! and please hit the like button.
LULU - February 6, 2021LULU has been crushed alongside other major retailers in the past quarter. A strong breakout of the downtrend can send LULU higher back to the 380 region in an early earnings run up.
Lulu long Trade setups for LULU Long:
Swing trade:
Stoploss by 323$, 200 SMA (very important support zone)
Take profit min: 357 $
Take profit mid: 367 $
take profit max: 388 $
Option play:
Bull put spread (long strategy, expect moderate rise in underlying asset)
Long leg: 320 $
Short leg: 300 $
Expiry time: two weaks (best case close 12 th February)
