LULU trade ideas
Bearish DivergenceOn the Monthly Chart, I see a Hidden Bearish Divergence on LULU. MFI Lower high shows strong push, but no gains
Last Week's Head and Shoulder's Bottom Was a signal Last week we detected a classic head and shoulder's bottom with a measured price target at $63 zone with a stop loss at recent swing low or the low of the right shoulder. Today's gap should give those fans a great smile. real-time alerts go www.2waytradiing.com
Short and LongOn one hand, it might be a good time to pick up for a short term pop, and on the other it looks like it's decisively under the 50dma so wait for the bounce and buy the puts. And then on the third hand it could be forming the cup and handle. Great opportunity all around!
Bull put spread on LULUTrend is bullish. EMA's look nice. WE had a bullish entry a while ago anyway. Updated and adjusted trigger for protective put.
$LULU is 47.74 and has hit its Price Target. Great HPS Trade$LULU is 47.74 and has hit its Price Target. Great HPS (High Probability Setup) Trade.
Is the bottom printed or more to go?Many bottom fishers tried their best, but last 6 months the price proved them wrong. U don't catch a falling knife. Hard to believe technicians of which I am one of them, but when u employ a system of numbers I mean combination of technical indicators plus fundamental indicators--and both tell you "We are on the same page" you don't hesitate. Now, the question is Is the bottom printed? The answer depends on what you believe about the company and if the stock is cheap both fundamentally and technically. As to technical point of view, it seems the stock's free fall is not over last gap filled which may even give some short sellers enough reason to stay tight, but recent 3-white solders may have given candlestick pattern traders to believe a bottom is within sight, but that did not last that long though volume was above average..this bullish pattern was followed by a bearish pattern (Flag) which got its measured target price once price broke the ascending support line of the bearish pattern.. Best to hope now is sideways and price's recent recovery was weak and needs to prove that a new believable reversal in under way. No position, but may soon start one.
