Here’s a quick trade idea on Lululemon (LULU) (March 05, 2013)
LULU
I’m Dan Fitzpatrick at StockMarketMentor.com on Tuesday, March 5th. In this Free Chart video, it’s going to be pretty short here because there’s not a whole lot to say. Look, I’m looking at Lululemon ( $LULU Lululemon Athletica inc ) and you can think, well this things really stinking up the joint; everything else was up, and this and that. Well, LULU ( $LULU Lululemon Athletica inc ) was up over three percent; it’s putting in a bottom here, it’s putting in a low. You look at this right here, this is a bit of a volatility squeeze, stock has been trading in a really tight range for a while. The retail sector is perking up a little bit; I’m covering several retail stocks in the nights Strategy Session. But for now, what I would look to do is watch how LULU ( $LULU Lululemon Athletica inc ) trades, see what it does when it hits the 50-day moving average, which is just $69.76, I didn’t say it, that’s where it is or $69.62, whatever, $70.00. Here’s what I want you to do, set a price alert for this stock at $70.00. If the stock starts trading above $70.00 you can have a pretty good idea that you’re going to get a nice pop, nice volatility squeeze here, and you can go ahead and take that for a nice trade. So anyway, that’s it for this video short and sweet and there’s your trade. Members get over to the Strategy Session and also happy anniversary to my brother and his lovely wife Kaysie; they’re two of the most amazing people that I know and I’m lucky to call them my brother and sister-in-law. Anyway, happy anniversary to them and I’ll see you tomorrow. Free Chart