Aug. 2 at 7:11 PM
$LULU 👀
This is one of those names I think the market is overlooking.
Price is starting to find support around the 0.786 Fibonacci level, and I’m comfortable building a position here rather than chasing strength later. If this level holds, buyers may finally regain control.
If support fails, I’m watching the 0.887 Fib near
$56 as the next major downside level. That’s the line I don’t want to ignore.
The long-term Wave 3 projection still points to a potential 630% upside. That's an aggressive target, not a guarantee, but it shows why I'm paying attention.
Fundamentally, Lululemon remains a premium brand with strong margins, loyal customers, and long-term international growth opportunities. The recent weakness has done more to reset expectations than damage the business.
For traders, patience wins. Let support prove itself before getting too aggressive.
I’ll be watching this one closely.
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