Live monitoring of the Descending Triangle setup on LULU. See where price is heading.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Gradual reversal from bearish to bullish.
Sideways movement between parallel supports.
Market participants tracking Lululemon Athletica should note the latest formation. The stock is trading at $114.28, up 3.3% on the day. Price action has carved out a classic Bearish Flag. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $109.2, targeting $71.91 with support near $119.9 (R:R 3.49).
What is your outlook on LULU?