Apr. 24 at 3:23 PM
$LULU getting absolutely smoked post-CEO headline (ex-
$NKE), but here’s where it gets interesting…
Price is grinding inside a high-pressure descending wedge while tagging the 0.786 Fib — historically where weak hands get flushed and reversals start brewing.
Even more important: both Daily + Weekly showing clear bullish divergence. Momentum is no longer confirming the downside.
That said — knife still falling. I’m NOT stepping in early.
Game plan: wait for selling to exhaust + reclaim of the 50DMA as support. That’s when risk/reward flips and institutions usually step back in.
Until then? Watchlist, not wallet.
This is how traps turn into trades
