I wouldn't touch it till August/September
LULU so far has an immensely strong patter making new highs , however it's entering a corrective phase that we have to wait to see what it brings.
In a about a month from now LULU announces earnings so we definitely have to wait and see for that as well.
If LULU keeps strong and doesnt manage to break any significant supports like VTLs or cycle lows , and does only minor pullbacks to 38.2 and 50% fibs and in general keeps this positively
configured patterns I will be all over the stock to the long side but not right now.
Important lows should be formed later summer . Right now I have no clue about the stock . It could easily keep going up with the expectations of the earnings coming up next month or just chop around .
What I am seeing is my important supports , and how the stock reacts the next couple 2-3 months .
I don't see a great opportunity there so far.
I wouldnt long it either short it. Just watching it.
In a about a month from now LULU announces earnings so we definitely have to wait and see for that as well.
If LULU keeps strong and doesnt manage to break any significant supports like VTLs or cycle lows , and does only minor pullbacks to 38.2 and 50% fibs and in general keeps this positively
configured patterns I will be all over the stock to the long side but not right now.
Important lows should be formed later summer . Right now I have no clue about the stock . It could easily keep going up with the expectations of the earnings coming up next month or just chop around .
What I am seeing is my important supports , and how the stock reacts the next couple 2-3 months .
I don't see a great opportunity there so far.
I wouldnt long it either short it. Just watching it.