LULU, WDAY updates 02/28

LULU: Counts best as having completed a larger (blue) “I/A” and “II/B”. The “I/A”-wave has a clear 5 wave structure up, with major-5 as a nice ending diagonal structure. Than wave-II/B retraced the entire EDT as it should. The price action since is a bit messy, but counts best as a 1st wave followed by an irregular failed flat major-2 wave. Although one could make this into a set of 1, 2, i, ii instead of 1, a, b, 2; the bottom line here is that LULU is breaking out from a Bullish ascending triangle. In the case of a simple C=A, from B, we should see $120, and based on the width of the triangle we should see $124, which alligns well.  Hence, that would area is my next target zone. Thus, IMHO, LULU can be longed with a target of $120-$124 and a stop at ones own comfort level, but not lower than $56.

LULU

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WDAY: Doesn’t count (yet) as clean and clear as LULU and IMHO this looks still best as a set of ABC. Note the nice 62% retrace for blue “II/B” and than we have a yellow (major) wave a/1, which simple doesn’t have a nice impulse structure either. The move up off the yellow (major) b/2 low to the red (intermediate) a high is neither a crisp and clear impulse. But that doesn’t mean it can’t be trade: counts best as red wave-c underway to ideally $164, which is where blue C=A. Major-c, would than be ~2.382x major-a.

WDAY