- The 50-day moving average held firm, as did the horizontal support zone at $76.
- Volume patterns have been resoundingly bullish over the past two weeks.
- The participation during every up day has outpaced that during each down day.
- Though the S&P 500 remains well off its recent peak, LULU has already reclaimed all lost ground and is fast approaching new all-time highs.
- Weekly: Since 2012, $82 has acted as an impenetrable ceiling in the sky halting a handful of the stock’s previous uptrends. If this week’s breakout attempt succeeds, it will mark a major victory for bulls and potentially kick-start a substantial rally.
daily
weekly
Buy the June $80/$90 bull call spread for $4.40. By using June options, we’re giving the stock four months to pop towards $90. If you wanted a more aggressive play, you could build the trade with March options.
The max loss is $4.40, and the max gain is $5.60. That means you could capture a 127% return on investment if you ride all the way to expiration and LULU stock sits above $90.
- 16 months later
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