$LULU seems ready for a short. 

The stock is down by more than 1.8% as of 10:20 AM EST.

1 to 4) Most of the stocks in its industry are down over 1-day, 2-day, 5-day and 10-day periods.

5) Overvalued.

6) Positive, but slightly reducing earnings growth in the last quarter.

7) Weekly Backdrop is bearish and breaking below Memory support.

8) Daily Flow candle color is bearish and it is giving a GWF trend-following short setup as of now.

lulu funda 2019-08-12_10-23-04.jpg  lulu tech 2019-08-12_10-21-58.jpg 
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LULU's industry scorecard as of 10:30 AM EST. The industry is weak today and is score is rapidly deteriorating.

lulu edge 2019-08-12_10-33-01.jpg 
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Here I follow up on the LULU analysis I shared on 12th Aug and illustrate how CUE traders could enter and exit the trade opportunity.

1) On 12th Aug, the day when I shared the analysis in the morning session, LULU confirmed the Go With Flow trend-following short setup by the end of the day. Those using real-time chart could enter the short at a better price point using intraday entry technique.

2) CUE traders would plan exit points at the time of entry. For a GWF setup, the suggested initial profit target is the Lower Boundary. At point 2, on 14th Aug the Lower Boundary was hit. That was also the level where the price was supported by pre-existing Memory smart-auto-trendline support. That support did not break.

3) Next day on 15th Aug price reversed from Memory and that day ended with a bullish shape candle. Seeing that, CUE trader would exit the entire position with a small profit. That would turn out to be a wise decision as the Memory support helped move price up. That is yet another illustration of why CUE traders take Memory support and resistance seriously.

LULU 2019-09-11_2-57-27.jpg    
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