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A bullish options trade on this apparel giant that’s showing signs of a recovery

Pelican Press

By Pelican Press,
in World News

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Today’s setup is LULU (Lululemon) . On Sept. 4, the company beat EPS, but sharply cut full-year revenue guidance — triggering a classic knee-jerk selloff of nearly 22% in one day. After tagging a five-year low, the stock has been quietly basing and is starting to show signs of a recovery. For this trade, I’m consulting three technical indicators to build the case. RSI (Relative Strength Index) I’m…

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