Today’s instrument is the Lululemon Athletica Inc. stock traded in the Nasdaq exchange under the ticker LULU. 

If we look at the LULU chart, we can see its downtrend since the start of the week, falling from the $455 price range to the $435 and then $415, attempting to climb back up to $440 but ultimately it slowly fell back down towards the $415 support. Yesterday it closed at $426 but today in the premarket session can be found trading at $417 right above the $415.

Lululemon Athletica Inc. has scheduled a third-quarter earnings announcement today 10/12/2021. If earning expectations are surpassed, we could expect the price to move upwards, towards the $450 price range.

Today we could expect a move towards the resistance of $440.

If however, it doesn’t manage to hold above the current price range then a case can be made for moving below the support of $415 and lower.

(Click on image to enlarge)