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Downgrade Alert for Lululemon Athletica (LULU)

By Shiri Gupta

Lululemon Athletica (NASDAQ:LULU) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $66.08 on volume of 3.4 million shares, above average daily volume of 2.3 million.

In the past 52 weeks, shares of Lululemon Athletica have traded between a low of $43.14 and a high of $81.81 and closed yesterday at $66.08, which is 53% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Based on a current price of $66.08, Lululemon Athletica is currently 3.2% above its average consensus analyst price target of $63.97. The stock should discover initial support at its 50-day moving average (MA) of $63.94 and subsequent support at its 200-day MA of $57.65.

Lululemon Athletica Inc designs and retails athletic clothing. The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness.

SmarTrend is monitoring the recent change of momentum in Lululemon Athletica. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lululemon Athletica in search of a potential trend change.

Keywords: analyst upgrades/downgrades lululemon athletica

Ticker(s): LULU