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Possible Bearish Inside Day Candle Pattern Detected for Lululemon Ath (NASDAQ:LULU)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Lululemon Ath (NASDAQ:LULU) based on the price action in the company's shares. Today's price range of $234.53 and $237.64 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Lululemon Ath may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $237.62, Lululemon Ath is currently 61.7% above its average consensus analyst price target of $91.07. Lululemon Ath shares have support at the 200-day moving average (MA) of $209.79 and additional support at the 50-day MA of $201.28.

Lululemon Ath share prices have moved between a 52-week high of $266.20 and a 52-week low of $128.85 and are now trading 84% above that low price at $237.62 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.8%.

lululemon Athletica Inc. designs and retails athletic clothing products. The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness. lululemon serves customers worldwide.

SmarTrend is tracking the current trend status for Lululemon Ath and will alert subscribers who have LULU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle lululemon ath

Ticker(s): LULU