When we look at the Lululemon Athletica (NASDAQ:) chart, we can see its spike from the $260 level on May 27 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 $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. has scheduled a quarterly earnings announcement today. If both EPS and Revenue expectations are surpassed, 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.