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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Lululemon Ath (NASDAQ:LULU) based on the price action in the company's shares. Yesterday's price range of $210.01 and $213.41 is within the prior day'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. Traders and investors interested in shares of Lululemon Ath may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

In the past 52 weeks, Lululemon Ath share prices have been bracketed by a low of $128.85 and a high of $266.20 and closed yesterday at $212.09, 65% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.95% lower over the past week, respectively.

Based on a current price of $212.09, Lululemon Ath is currently 57.1% above its average consensus analyst price target of $91.07. Lululemon Ath shares have support at the 50-day moving average (MA) of $207.91 and additional support at the 200-day MA of $207.63.

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: bullish am inside day candle lululemon ath

Ticker(s): LULU