Lululemon (LULU) - Trend Channel Setup with Strong Target
Lululemon is consolidating within a descending channel following a strong impulse move (wave iii). The price is currently forming wave iv and respecting support near $371.70. A breakout from this channel could trigger the next leg higher toward the key Fibonacci targets.
Setup Details:
- Entry Zone: ~$390.60
- Stop-Loss: $371.70
- Target 1: $409.96
- Target 2: $449.27
Key Observations:
- Trend remains bullish supported by wave structure.
- EMA ribbons below price indicate bullish momentum support.
- Watch for breakout confirmation above resistance to trigger the trade.
Risk/Reward: Attractive 1:3+ setup. 📊
#LULU #Trading #NASDAQ #StockMarket
Setup Details:
- Entry Zone: ~$390.60
- Stop-Loss: $371.70
- Target 1: $409.96
- Target 2: $449.27
Key Observations:
- Trend remains bullish supported by wave structure.
- EMA ribbons below price indicate bullish momentum support.
- Watch for breakout confirmation above resistance to trigger the trade.
Risk/Reward: Attractive 1:3+ setup. 📊
#LULU #Trading #NASDAQ #StockMarket
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