I’m looking at this pullback in LULU as a potential buying opportunity. There are two areas of support that show up on this daily chart. The first zone comes in at 72.23 – 72.40. The second zone comes in at 70.59 – 70.90. Both of these areas include symmetry projections. If one of these zones is tested and price holds, I will go down to a lower time frame chart to watch for a buy trigger to enter the trade. The upside potential is the 82.74 area which is a target off the larger swing shown here on the daily chart.
If these same support zones are violated instead, I will back off the buy side in LULU til further notice.