$LULU
Added 2024-07-23 19:08:48 +0000 UTCThis is a very common set up we are seeing right here.
$CELH, $NKE, $DIS, $SBUX etc are all desperate to find support and it is still not confirmed yet for them all
Each one I believe will offer value once support is achieved and they can improve on their next earnings report
They are market and sector leaders for a reason and have been through this many times in the past
The trend support line here for $LULU is at $261, losing this level and the 0.618 Fib is in play (like $CELH) at $226.
From $516 to $226, would make this an attractive level if support is held.
Comments
RSI yes, it's not a clean divergence and looks quite messy, would not base a buy on this
Gareth Neary
2024-07-23 19:34:01 +0000 UTCIs that RSI on the bottom? Looks like a significant bullish divergence, don’t you think?
Nick E
2024-07-23 19:30:46 +0000 UTC
