High Above Average Volume on Lululemon

Published on Friday, 15 June 2012 11:38 Written by TradersHuddle Wire

New York, June 15th (TradersHuddle.com) - Unusual high volume detected on shares of Lululemon Athletica Inc. (NASDAQ:LULU) early in the trading session. The pace in volume of Lululemon is already above average, with sellers in control, as the stock is 1.94% lower.

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 2.057 times its 3-month average volume and has calculated support and resistance at $62.95 and $72.39 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.59% from its previous trading close, which means that Lululemon stock is underperforming the overall market.