LULU Elliott Wave Analysis Trading Lounge

Lululemon Athletica Inc., (LULU) Daily Chart

LULU Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Zigzag

POSITION: Wave 2 of (1).

DIRECTION: Bottom in wave 2.

DETAILS: We are looking for a potential bottom in wave 2 as we seem to have completed a wave {c}. Looking for further upside as we break out of 400$.

Lululemon Athletica Inc., (LULU) 1H Chart

LULU Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Zigzag

POSITION: Wave {c} of 4.

DIRECTION: Bottom in wave {c}.

DETAILS: Here I present to you an alternative count suggesting we are in a wave 4 of (1) and the whole move up from August 2024 low is yet to be complete and we could see completion as we approach Trading Level 5 at 500$.

This Elliott Wave analysis of Lululemon athletica Inc., (LULU) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.

* LULU Elliott Wave Technical Analysis – Daily Chart*

Lululemon (LULU) is showing signs of a potential bottom in wave 2 of a corrective Zigzag pattern. This suggests we may have completed wave {c}, setting the stage for further upside. A breakout above the $400 mark could confirm the start of a new bullish leg, as the stock looks to resume its upward trend.

* LULU Elliott Wave Technical Analysis – 1H Chart*

In this 1H chart of Lululemon (LULU), there’s an alternative count suggesting that we are currently in a wave 4 of (1), meaning the entire move up from the August 2024 low may still be unfolding. A potential completion of this move could occur as we approach the key Trading Level 5 at $500, where the stock might encounter resistance.

Technical Analyst: Alessio Barretta

More By This Author:

Elliott Wave Technical Analysis: Polkadot Crypto Price News For Thursday, Jan 23
S&P 500 Elliott Wave Analysis, Plus NDX, DAX, FTSE & ASX200
Unlocking ASX Trading Success: ResMed Inc