Technical Pulse: Lululemon Athletica Inc. April 23, 2021 709


Lululemon Athletica Inc (US: LULU) Corrective stance has been on since August 2020. However, recent technical indicate that the Lululemon is heading for a strong breakout to the upside:   


  1. The larger descending channel reflects the corrective nature of the stock and if we zoom out into larger time frame, it is actually a bullish flag in the making.
  2. The 2nd touch of the lower bottom of the channel is a smaller inverted head and shoulder that have since confirmed its pattern after the stock breaks above the resistance neckline at US$330.00 with a bullish Marobozu candle. It also confirms the bullish engulfing candle on Wednesday.
  3. Ichimoku is showing “Three Golden cross” signal after the Tenkan-Sen and Kijun-Sen bullish cross and. Chikou-Span is strongly above the candles and the Senkou-Span A and B just performed a bullish kumo twist.
  4. Price may face some throwback retracement at US$355.00 region.


*Timeline of the trade is 12 weeks from the date issued as the technical is showing clear potential bullish uptrend in the long run.





Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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