LULU has been an exceptional stock; going up 79% the past year. We have a potential setup occurring for a profitable swing trade.
What to watch (1 week time frame): - We see an incomplete head and shoulders - right shoulder can reach all time high (shown above). - Ichimoku cloud shows bullish for next weeks or month to come - We will see the stock move higher before lower. - Watch for a bounce on the 26 day avg line or Ichimoku Cloud Span A. -Be patient and enter only if a bounce occurs around the 130-140 levels.
We have identified the long term trend, found an entry point and exit point. Now RIDE THE WAVE. Most important of all, BE PATIENT.