Trade Alert - Lululemon High Volume

Published on Monday, 30 August 2010 11:40 Written by Christian Paolinetti

New York, August 30th (TradersHuddle.com) - Unusual high volume detected on shares of Lululemon Athletica Inc. (NASDAQ:LULU), early in the trading session. Lululemon is currently trading lower by 7.33%, so definitely the sellers in control, as the stock's volume is already above average.

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

Lululemon has already traded 1.029 times its 3-month average volume, and has calculated support and resistance at $37.30 and $39.75 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.5% from its previous trading close, which means that Lululemon stock is underperforming the overall market.