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Trade Alert - Lululemon High Volume

Published on Tuesday, 31 August 2010 11:40 Written by Christian Paolinetti

lulu New York, August 31st (TradersHuddle.com) - Unusual high volume detected on shares of Lululemon Athletica Inc. (NASDAQ:LULU), early in the trading session. Lululemon is currently trading higher by 3.1%, so definitely the buyers stepping in, as the stock's volume is on pace to break its 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 0.809 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 higher by 0.37% from its previous trading close, which means that Lululemon stock is outperforming the overall market.

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