LULU Short Idea
LULU got a pop today along with NKE, that was the first real move up it has had in a good while. I still consider it to be extremely weak, and there's a nice ascending wedge that went right up into trendline resistance. I'd expect a rejection from here, if not it may go test the longer term trend above.
Final target is 265, I'll keep shorting LULU as long as it remains in this extended downtrend. Weak stocks are weak.
Final target is 265, I'll keep shorting LULU as long as it remains in this extended downtrend. Weak stocks are weak.
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky, most traders lose money!
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