06Mar

Lululemon Athletica Inc. (LULU) Elliott Wave Analysis: Stock Forecast and Trading Opportunities with Key Support & Resistance Levels

LULU Elliott Wave Analysis – Trading Lounge Daily Chart

Lululemon Athletica Inc. (LULU) – Daily Chart

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave 3 of (C)

Direction: Downside in Wave 3

Details:

  • Further downside movement in Wave 3 is expected, as Wave 1 seems to have been established.
  • A critical support level to watch is TradingLevel3 at $300, where a potential bounce in Wave {ii} of 3 could occur.

Lululemon-Athletica-...


LULU Elliott Wave Analysis – Trading Lounge 1H Chart

Lululemon Athletica Inc. (LULU) – 1H Chart

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave {a} of 2

Direction: Upside in Wave 2

Details:

  • An alternative Elliott Wave count indicates that the entire downward move from the top in Wave (B) might be complete.
  • A pullback within Wave 2 may now be forming, offering a temporary relief rally before the primary downtrend resumes.
  • This short-term bounce in Wave 2 could create trading opportunities before the broader market decline continues.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

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Elliott Wave Trading Insights

This analysis offers key insights into Lululemon Athletica Inc. (LULU) by identifying potential market trends, corrective patterns, and price movement forecasts using Elliott Wave Theory. Traders should closely monitor key support and resistance levels while analyzing wave structures to confirm the market's directional bias.

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