LULU
is approaching June Levels. The next major level on the downside would be the gap 249-251. The sellers have had complete control of the shares the past 3 weeks. The 3 lines are the 50 100 and 200 SMA's respectively, LULU had no problem breaking the most active level shown of 317.02 and quickly broke below the 100 SMA. The 200 SMA acts as support. Furthermore LULU has Recently moved into Oversold levels on RSI and has began to show upside on CCI. The future of this stock likely depends on good sales reports, retail seeing action, and a hold of 287.66 next week.
Comment:
LULU is now at a level that could serve as more upside, we either see a break and push to test the gap as bulls maintain the strong volume advantage or some consolidation between 304.02-317.02 after what's been a strong week