Long LULUlong term hold here, but would use some options to reduce cost basis
Likely will just buy 1 call leap in my retirement portfolio - just set it and forget it
Haven't checked option prices yet but technical set up looks good
Fundamentally great company, people love their products and price point - fitness industry is only growing and the pandemic likely would have made people reflect on the state of their well-being (just my assumption) but appears that the pandemic didn't have a major effect on this retailer
LULU trade ideas
$LULU TA for a freind (Not a strong setup)I don't really see a good setup but a friend asked for TA... Only thing I see is a buff weekly support & it is trending in a narrow channel. I can't find any other indicators to support opening a long position (RSI, MACD, TD sequential etc.) Price is near 50 & 100 day SMA NASDAQ:LULU
LULU channel bounce play From about September until now, LULU has held a very strong upwards channel that is not showing any major signs of weakness. Having seen over 3 strong bounces from the bottom, we are able to take a trade with this high probability bounce with a tight stop in order to protect the downside risk. In addition to the price action, the squeeze indicator is showing us major bearish momentum is likely complete as well as MACD curling to cross to the upside, all in our favor. Our entry will likely be around 349.45 - 351 and our first PT is 358.73. I am looking for our first PT to hit within 5 days at most. A hard stop will be placed at a breach of the lower blue trendline of the channel , with a full candle breaking and holding below to avoid a fake-out or stop hunt. NASDAQ:LULU
Cup and Handle WAS forming Earnings 12-10 AMCLulu was trying to form a Cup and Handle pattern and it appears another pattern has taken the arena..also was trading in ABC bullish pattern with a stop below C..which is way down there now )o:
If the handle low (HL) goes below Mid cup (MC) then the pattern is invalidated...
A harmonic pattern looks to be forming as well..if so this could go down some more..Harmonic patternse are traded using Fib levels..
This is one of those where long entry level is important for the cup and handle pattern or when stock is in an uptrend at least..some get in at the handle low...
Neutral until pull back is complete...possible support level right under 362ish and at top trendline of an ascending triangle at 352ish..also S at gap..Caution if major support levels are violated
Be safe/sometimes when price hits D, there can be a bloddy price reaction before the waves start all over again
DunnoLooks like a bearish Gartley..
Strong stock so perhaps will not fall all the way to PRZ (Point of reversal zone)
Most harmonic pattern trade entries occur around “D” point within the reversal zone. It could be a Buy (in bullish patterns) or a Sell (in bearish patterns). Usually, “D” is identified by a confluence of projections, retracements, and extensions of prior swings (legs), universally called as “ point of reversal zone, and is abbreviated PRZ
A visual, geometric price/time pattern comprised of 4 consecutive price swings, or trends-it looks like a “W” on price chart.
The dreaded W..when a stock hits D in a harmonic pattern, sometimes there is a bloody pull back.
Must be valid ABCD pattern observed in move from A-to-D
Time from point XA and AD ideally in ratio and proportion
Limited instances where ABCD move completes at 100% of XA (double top)
Time of XA and AD should be equal for “true” double top
Pattern failure (price moves beyond point X) may indicate strong continuation move in progress
Price may move up to at least 127.2% or 161.8% of XA
Be safe on this one..Just an observation
LULU is finally readyNASDAQ:LULU NOV 27 $350 call were alerted in the channel. Up over 30% TODAY! DM for details
None of the content published constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Information provided in this correspondence is intended solely for informational purposes and is in no way guaranteed. For financial advise seek appropriate investment advice from a licensed Industry representative.
Buy the dip on $LULU after earnings?If past movement are not a guaranteed for future result, i did not get that memo... Because as it happened in the past, again $LULU had amazing earnings, beating both revenues and earnings and yet share are down more than 5% as this morning.
Here some number:
Revenue increased 22% to $1.1 billion
Comparable sales increased 19%, or 18% on a constant dollar basis
Diluted EPS of $1.10, Adjusted EPS of $1.16
IMO demand for athletics clothing will continue to rise. The mirror acquisition will guaranteed $LULU to take a piece of the pay from other player like $PTON and $APPL during lockdown orders.
Why am I bullish? On a technical prospective it seems to be holding well around 345-348 price. There are multiple factors for that:
1. Support at around 361$, 344$ and 325$. It seems to be holding at 348$ for the moment. If it does not, will be looking to buy at 325$.
2. Trend line still in up trend. It intersect quite well with support at 348$. That is why I bought some shares
3. Fibonacci retracement: also at around 348$ price.
Usually where there are multiple convergence of factors at once, stocks tend to do well.
In addition many analysts raise PT and reiterate their buying ideas.
AGAIN, past movement are not indication for FUTURE price actions. But $LULU seems to different :) Time will see.
This is not an investment advice. Do your own due diligence before investing.
$LULU with a neutral outlook following earning release The PEAD projected a neutral outlook for $LULU following a negative under reaction after earning release placing the stock in Drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.