Lululemon's Chart & Elliott's Stake: A Bullish Trade

Lululemon stock, once at rock bottom, has surged by ten percent following a smart trade idea by Barcharts John Rowland. The stocks rise was further boosted by activist investor Elliott Managements stake. Michael Burry, known for his early and controversial long ideas, also bet big on Lululemon. The stock formed a classic W-shaped base, signaling sellers exhaustion, and short-term moving averages started curling higher. Rowland structured the trade as a covered call, providing instant income and a cushion against dips. The next hurdle is the two hundred-day average near two hundred thirty dollars, with a gap around two hundred seventy-eight that might slow things. Strong brand loyalty and real consumer demand keep the momentum alive.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.