$LULU - RC -
Added 2024-05-29 10:01:20 +0000 UTC$LULU is not getting any relief at the moment and has fallen out of favour with the market and our sell at $397 when it infringed on Wave 1 turned out to be a wise decision, saving us some heart ache and losses.
This is why I strictly keep to the rules of EWT to protect my portfolio, what may not be have been obvious then but is very obvious now.
Price action is still searching for support and is working its way down through the Fib levels now, looking destined to touch the yellow support line at $255, which has been in place since 2017, this is also in between the 0.5 Fib and 0.618 Fibs, making this an ideal area to find support.
Not considering a position here until support is found.
I have also attached the fundamentals, which is showing that they are very reasonable right now, with a FWD PE of 18 and healthy margins.
Comments
EWT?
BBindelay
2024-05-29 19:42:37 +0000 UTCvuori taking over
Fin
2024-05-29 15:21:58 +0000 UTClet's hope ONON
swan786
2024-05-29 11:55:07 +0000 UTCI wonder where they went
Gareth Neary
2024-05-29 10:35:32 +0000 UTCFrom fundamental point of view. The main designer left the company which is quite bad from my opinion. Clothes have specific design.
Vojtěch Pavel
2024-05-29 10:26:27 +0000 UTC
