Lululemon Price Levels to Watch as Stock Soars on Strong Earnings, Outlook
Key Takeaways
- Lululemon shares rose sharply Friday after the activewear retailer reported better-than-expected earnings and lifted its full-year outlook.
- The stock formed an inverse head and shoulders between May and November before breaking out above the pattern’s neckline earlier this week ahead of the company’s quarterly report.
- Investors should watch important overhead resistance areas on Lululemon’s chart around $389, $419, and $468, while also monitoring a key support level near $335.
Lululemon Athletica (LULU) shares soared on Friday after the activewear retailer reported fiscal third-quarter results that topped analysts’ estimates and raised its full-year outlook.
The company guided fiscal 2024 revenue of between $10.45…
