Lululemon (LULU) - Trend Channel Setup with Strong Target

Lululemon is consolidating within a descending channel following a strong impulse move (wave iii). The price is currently forming wave iv and respecting support near $371.70. A breakout from this channel could trigger the next leg higher toward the key Fibonacci targets.

Setup Details:
- Entry Zone: ~$390.60
- Stop-Loss: $371.70
- Target 1: $409.96
- Target 2: $449.27

Key Observations:
- Trend remains bullish supported by wave structure.
- EMA ribbons below price indicate bullish momentum support.
- Watch for breakout confirmation above resistance to trigger the trade.

Risk/Reward: Attractive 1:3+ setup. 📊

#LULU #Trading #NASDAQ #StockMarket