LULU has been toying with its historical high around 82 since mid 2013...
It is now back there and attempted yet another breakout above its historical high as late as last week.
It has also been building a base since Dec 2017 towards the very top of its current range.
All these elements make a breakout more probable, but not guaranteed.
I would watch and interpret any close above 82 as the first sign of a proper breakout - And a compelling reason to buy the shares.
I have prematurely purchased the shares last week on an intraday break of 82.
It is now back there and attempted yet another breakout above its historical high as late as last week.
It has also been building a base since Dec 2017 towards the very top of its current range.
All these elements make a breakout more probable, but not guaranteed.
I would watch and interpret any close above 82 as the first sign of a proper breakout - And a compelling reason to buy the shares.
I have prematurely purchased the shares last week on an intraday break of 82.
Comment:
The stock is grinding higher but remaining below the resistance for now. The longer the base, the more significant the breakout.
Trade closed: target reached:
Breakout above 82 confirmed at the close yesterday. Closing this thread.
