Lululemon Athletica Stock’s Short-Term Trend Could Continue

When we look at the Lululemon Athletica Inc (NASDAQ:) chart, we see its impressive buildup and breakout leading to its on Mar. 29. Earnings expectations were surpassed, EPS beat expectations, and Revenue reported matched the estimates.

It steadily climbed from the $310 range on the 24th to $330 before the announcement day. It rallied to $350 with the positive news. During yesterday’s session, it extended its positive run with a spike from the open, hitting $370 and reaching as high as $390 intraday.

It was last found trading in the $376 range, having the closest support level at $350 and a temporary overhead resistance level at $390. Today we can expect an extension of the short-term trend and a move towards $390, challenging the closest resistance level.

If however, it doesn’t manage to hold on to the current level, then a move towards the $365 temporary closest support level can be expected.

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