Lululemon’s chart looks extremely bearish. It’s make or break for this stock. A breakdown of its current support would confirm the break of the neckline in a Head and Shoulders pattern. The 1:1 extension of the move could send the stock price down another 50%, towards $130. Yikes!
The 5 Wave supercycle ended at the Head, around $520. The stock then crashed in an abc correction, rejected at the golden ratio at $420. We are now hanging onto support, $234 is the last hope before potential calamity.
That might seem dramatic but all it would take is for tariffs to eat into the profits and the company will be under significant margin pressure. The technicals and fundamentals don’t look great.
Be careful buying the dip on here. It looks like a falling knife. I’d rather be short, but currently have no position.
Not financial advice, do what’s best for you.
The 5 Wave supercycle ended at the Head, around $520. The stock then crashed in an abc correction, rejected at the golden ratio at $420. We are now hanging onto support, $234 is the last hope before potential calamity.
That might seem dramatic but all it would take is for tariffs to eat into the profits and the company will be under significant margin pressure. The technicals and fundamentals don’t look great.
Be careful buying the dip on here. It looks like a falling knife. I’d rather be short, but currently have no position.
Not financial advice, do what’s best for you.
交易开始
Short since the breakdown of the neckline at $258. We are now $193 and my short is printing. I did warn the bulls to be careful buying dips on this falling knife. 交易结束：到达目标
Absolute melt down here, my short is printing. I will take some profits at market open, we are currently at $168 pre market. I'll start by taking 1/3 of my position, i'm looking for $128 to unload most of my short.
Congratulations on anyone that traded this with me. We plan ahead here, this short trade was initiated 3 months ago.
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