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)
LULU trade ideas
LULU Bullish Ascending TriangleReally nice bullish ascending triangle has formed on LULU. We just has a strong bounce off bottom support line and I believe the price will climb back up to 385 from here and then will attempt to breakout of the triangle. Price may hit resistance at this level however, If a breakout does occur I am confident LULU will hit new all time highs---$400+.
LULU target 540, if local low holdsIf this low can hold, or we see some consolidation, could potentially begin the wave 3 move to the upside from here, target for the 5 wave cycle is 540.
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Copyright Rohan Karunaratne 2021
LULU -- waiting for pullback to enter longI like LULU, and so does all the gym goers and yoga goers especially if COVID restrictions start to loosen up over the next month or two approaching spring and summer.
Long term I like LULU long, but for now, I'm going to be patient and wait for a slight pullback to a better demand buying level. If we can get a pullback A B C pattern back to the 350's, I'll look to enter long a month or two out with some call debit spreads. If the pullback comes, I'll watch for the trend support line to hold, adding to any positions if it holds and some consolidation builds, strengthening corrective A B C count as valid.
Game plan: let (hope) for a slight pull back here. Long term, I think LULU can have a nice stretch up to the $480 price range if a full impulse wave plays out through wave v. My first targets up will be 386 and 407. I'll be bullish above 355. Invalidation / potential corrective pattern fully playing out if price goes below 345.
LULU - Trade setupI like this support area bounce and run here. I have 2 exits you can play too here. Wait for tomorrow and a break of the entry to get in. No need to be first in just don't be last out. Not a bad option play can make some nice coin on this trade if you don't have the money for shares. Buy at the money options, don't go buying 58 strikes out of the money and asking why I didn't make much money on the trade. 2 or 3 week out option is fine. One week might not be enough time.