New Support Levels for Lululemon Athletica Inc. (LULU)
Published on 07/22/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- In today's trading session, the shares of Lululemon Athletica Inc. crossed above the 50-day moving
average indicating a likely bullish trend. Recent activity signals that the shares may
continue to head higher in the foreseeable future assuming that the moving average
continues to rise with the price of the equity. Shares of LULU settled the day up $2.17 to
$40.49 on lighter than usual volume. Today, the stock price ranged between $38.21 and $40.59.
The stock's 52 week low is 14.5 and the 52 week high is 46.49.
Investor expectations change with time, and they often do so abruptly. The development of support levels is
probably the most noticeable and reoccurring event on price charts. The breaking through support levels can be
triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support
and resistance levels for LULU are 38.93 and 41.31 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.
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