Lululemon Breaking Out?

Published on Monday, 06 February 2012 09:24 Written by TradersHuddle Staff

New York, February 6th (TradersHuddle.com) - Shares of Lululemon Athletica Inc. (NASDAQ:LULU) closed the trading session at $64.58 just above calculated resistance at $64.51 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

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's stock was trading in a well defined range with support at $59.23 and resistance at $64.51, given that this range was broken traders will be closely monitoring the stock