Close to Key Levels: Lululemon

New York, March 6th (TradersHuddle.com) - Lululemon Athletica Inc. (NASDAQ:LULU) closed the trading day at $69.13, near its 50 day and 200 day moving averages set at $69.62 and $67.89 respectively. Lululemon's price action placed the stock above the 200 day moving average but below its 50 day moving average, a setup that signals a possible break out.

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 seems to be setting up for a tight range between the 200 day moving average as support and the 50 day moving average serving as resistance.

A tiered approach, appears to be the best strategy to maximize possible movements in the stock, as traders could establish a small position in Lululemon and wait for the stock to break out above its 50 day moving average at $69.62. Then they could add to the position as momentum builds with the breakout. On the flip side, if support being referenced at the 200 day moving average set at $67.89 breaks, it could signal further downside pressure for Lululemon.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 18,232.02 ▼53.72 (-0.29%)
o S&P 500 2,126.06 ▼4.76 (-0.22%)
o NASDAQ 5,089.36 ▼1.43 (-0.03%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:18,232.02 Trade time:4:32PM EDT Value change:▼53.72 (-0.29%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,126.06 Trade time:4:32PM EDT Value change:▼4.76 (-0.22%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,089.36 Trade time:5:15PM EDT Value change:▼1.43 (-0.03%)
Copyright © 2013 TradersHuddle.com. All Rights Reserved.