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Catatan
Slightly rising wedge on 1D - strong earnings report on Thursday. From long-term perspective, LULU is obviously a very bullish company: The company has a three-year annualized earnings growth rate of 25% and sales growth rate of 18%. Annual return on equity in Lululemon's latest fiscal year rose to 38% from 33.8%. Annual pretax margin also expanded nicely to 22.6%.My plan is simple; Wait for SMI (stochastics momentum index) to show bullish cross (hopefully below -0.50 interval). If LULU does experience some more sell off this week, it will most likely consolidate or trend in the mid range of the OmniBands. I plan on being patient with this play, as SMI is showing some more potential sell-off. Price is currently touching the 50 MA, so seeing that act as resistance would be nice. But for now, be patient!!!
Entry Price: Bullish SMI cross w/confirmation
Price Target 1: 370
Price Target 2: 400
Stop Loss: Depends on where SMI entry will be, but definitely looking for a 1:3 or higher risk/reward ratio regardless. Will update this once SMI crosses.
Will keep this updated. If you liked this idea, don't forget to give it a like! Happy trading!
Catatan
Currently in bullish put spreads:+40 15 JAN 400 P
-40 15 JAN 410 P
Max profit: $30,800
Max loss: $9,200
R/R: 1/3.35
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.