LULU is one of the stock in Abu Dhabi Securities Exchange that has disappointed many investors and traders. Right from the successful IPO everyone had a high hope for good returns from this stock and it did exactly the opposite. After the listing it could not take off we are seeing selling pressure almost everyday, Red candles are printed all over the chart. I was watching 1.28 zone very closely for a bounce but still no buyers are interested at current levels. My next area of interest is between 1.17-2.00 if we can see some buying pressure with good volumes i would take small position and wait for more price action to add more quantities. Overall of course its in a down trend.
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