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Buy It Here: $LULU Crushed On Earnings

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of Lululemon Athletica inc. (NASDAQ:LULU) became the latest retail casualty after reporting disappointing earnings results. The athletic apparel maker dropped over 20% to $52 from a closing price on Wednesday of $66.30. This free fall will take the stock below a major support line (seen in the chart below), triggering continued selling in the coming days. Investors would be wise to stay away from bottom fishing until Lululemon Athletica inc.hits $37.00. This will be the longer term accumulation zone. A day trading scalp level today for aggressive investors would be $49.85. Look for a quick Dollar bounce off that level.

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Stock investors chart buy level on Lululemon Athletica inc.


This article was written by ST G for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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