Shares of Lululemon Athletica (LULU) are in full correction mode after their recent earnings report. While the report was solid, the stock had run to an extreme that was unsustainable. This meant that whatever the earnings report was, the stock was going to sell. Already down almost 10% from its all-time high from just days ago, Lululemon Athletica continues to sell. The first Lululemon buy target price comes in at the previous all-time high from February 2020 at $265.00. This is where smart money will begin to accumulate for a bounce higher.
The Lululemon buy target price is over $30 lower on the stock. This means there is still another 10% downside expected before smart buyers will begin to accumulate.
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