$LULU just tanked 17% and briefly touched $99.
That's a violent flush. If you're watching retail names, this is the kind of move that either sets up a dead-cat bounce or confirms the sector is broken. Chart-wise, $99 could be a psychological support level worth monitoring for a scalp if volume dries up and you see a reversal candle.
But if it breaks below and stays there? That's your signal the selling isn't done. Retail has been weak, and when a name like Lululemon drops this hard in a session, it's usually not a one-day story. Watch for follow-through or a quick mean reversion pop.
That's a violent flush. If you're watching retail names, this is the kind of move that either sets up a dead-cat bounce or confirms the sector is broken. Chart-wise, $99 could be a psychological support level worth monitoring for a scalp if volume dries up and you see a reversal candle.
But if it breaks below and stays there? That's your signal the selling isn't done. Retail has been weak, and when a name like Lululemon drops this hard in a session, it's usually not a one-day story. Watch for follow-through or a quick mean reversion pop.