Today’s instrument is the Lululemon Athletica Inc.‘s stock traded on the Nasdaq exchange under the ticker LULU.
When we look at the LULU‘s chart, we can see its spike from the $260 level on the 27th of May to the $285 level and its steady climb towards the $290 level. It managed to reach as high as $300 but unable to move higher it returned to consolidation at around the $295. It was last found trading in the $290.39 level having the closest overhead resistance at the $300 level and the closest temporary support level at the $280 range.
Lululemon Athletica Inc. has scheduled a quarterly earnings announcement today 02/06/2022. If both EPS and Revenue expectations are surpassed, then we could expect the price to move towards the $320 range.
Today we can expect a move towards the $300 level, as it held on to the $290 level nicely during the past few days.
If however, it doesn’t manage to hold on to the current level then a move below the $280 closest temporary support can be expected.
(Click on image to enlarge)
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