High Above Average Volume on Lululemon

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High Above Average Volume on Lululemon

Published on Tuesday, 10 January 2012 11:38 Written by Danny Miller

lulu New York, January 10th (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 15.23%, so definitely the buyers stepping in, 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 2.039 times its 3-month average volume, and has calculated support and resistance at $46.51 and $49.04 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 1.08% from its previous trading close, which means that Lululemon stock is outperforming the overall market.

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