Lululemon Athletica Inc

  • LULU

  • $254

  • +2.69%

  • $250

  • $257

  • $247

Ticker Appearances

Tue, December 12, 2023 | 1:20PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
Tue, December 12, 2023 | 1:20PM ET
LULU 2.69%  - Lululemon atheletica has gotten quite stretched on this push back to new all-time highs. While a very positive intermediate-term pattern, this would benefit from consolidation in the weeks to come and this seems likely given the plethora of daily and weekly upside exhaustion indicators as LULU just got over$500. I do not find the stock appealing here, and expect this likely will need to pullback to$450-460 which would be a better area of risk/reward -based support- Overall, a great stock, but just overdone, and not as actionable here at$500 for longs, technically speaking
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