LULU shares are down sharply this morning after they lowered their forecast. Updating the monthly chart from a few nights ago which I posted, first below, the potential for a major breakdown dating back years is still menacing. I would view weak bounces below $68 as short opportunities. There is buyout risk here, though, so it is only for the most aggressive traders.
Also note on the second chart, also a monthly timeframe, this one of ISRG, that stock has similarly broken down on a multi-year basis and could easily drop further to retest its primary breakout (purple line).
On the long side this morning, the action out there is a bit subdued. Some names on my radar if things pick up: BKW BRKR LMOS QIWI SOHU.
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I recall you highlighting ISRG a few weeks ago, saying the damage was far from resolved. Thanks for the update… and… good call!!
Thank you, Jeffrey.
That ChessNwine….he da man.
Thanks, flick!