Yesterday, Thu Mar 28 2019 I put together a trade in Lululemon Athletica Stock (LULU) following their earnings release. The stock obviously shot too high yesterday and this morning the stock is moving lower as it fell below $164.
This should be a test of the new high in the stock. Strong support is at $140 for the stock and then the $120 valuation. If Lululemon Athletica Stock (LULU) breaks below $140 I will be buying shares and selling put options for income.
Since March 2018 the stock has returned a 113% gain making a new high yesterday, Thu Mar 28 2019 of $171.43.
Volume has been quite good and you can see that the dip in January was heavily bought into by investors. The move to a new high yesterday saw another very heavy day of trading for the stock.
Yesterday I entered a number of trades in the rally. Today’s drop created another opportunity to add further trades to my positions in Lululemon Athletica Stock (LULU).
The trades are for members along with additional comments on the outlook and expectations for further trades in the next several months.
The rest of this trade alert and ideas article is for FullyInformed Members.
Lululemon Athletica Stock (LULU) Trade Alerts and Ideas for Mar 29 2019
Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.