Lulu is highly successful retailer.
It is a well know brand world-wide.
But it is obvious that stock price valuations is just too high.
A correction is imminent.
On the monthly chart, there is a text-book head and shoulder pattern.
Price action broke the neck to the downside.
If price close this month below neck area which is around 302 USD, things will accelerate in favor of bears.
There is an uptrend that started a decade ago and probably in couple of weeks price is going to test the trend line.
If price cant hold that line, 192 USD is possible in the short term.
Lulu can test 78 USD area depending on FEDs actions.
Important support areas for the long term
302
245
224
192
166
139
120
78
Follow for more ideas and charts!
It is a well know brand world-wide.
But it is obvious that stock price valuations is just too high.
A correction is imminent.
On the monthly chart, there is a text-book head and shoulder pattern.
Price action broke the neck to the downside.
If price close this month below neck area which is around 302 USD, things will accelerate in favor of bears.
There is an uptrend that started a decade ago and probably in couple of weeks price is going to test the trend line.
If price cant hold that line, 192 USD is possible in the short term.
Lulu can test 78 USD area depending on FEDs actions.
Important support areas for the long term
302
245
224
192
166
139
120
78
Follow for more ideas and charts!