After Yesterday's Rally of 1.02% Shares Could Potentially Pullback
Lululemon Athletica (NASDAQ:LULU) traded in a range yesterday that spanned from a low of $77.54 to a high of $78.79. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $77.82 on volume of 496,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Lululemon Athletica share prices have moved between a 52-week high of $78.79 and a 52-week low of $43.14 and are now trading 82% above that low price at $78.66 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Lululemon Athletica on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.76. Since that recommendation, shares of Lululemon Athletica have risen 6.7%. We continue to monitor LULU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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