Lululemon Near the 200 Day

Published on Thursday, 09 September 2010 04:44 Written by Christopher Lynn

New York, September 9th (TradersHuddle.com) - Shares of Lululemon Athletica Inc. (NASDAQ:LULU) traded at $36.1 close to its 200 day moving average currently set at $35.6614. Lululemon's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $31.08 and calculated resistance at $35.73. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Lululemon stock.

Traders wanting to establish a position on Lululemon will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.