Lululemon Athletica (NASDAQ:LULU) crossed over its 10-day moving average of $63.19 on a volume of 714K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
Over the past year, Lululemon Athletica has traded in a range of $52.20 to $81.09 and is now at $63.31, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.
Lululemon Athletica Inc designs and retails athletic clothing. The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness.
Potential upside of 25.1% exists for Lululemon Athletica, based on a current level of $63.31 and analysts' average consensus price target of $79.22. The stock should find initial resistance at its 50-day moving average (MA) of $67.13 and further resistance at its 200-day MA of $67.57.