Thoughts on Luluemon

13 gen 2014

I think the next level of long term support is at the 42-43 level. Every gap down on earnings and bad news has been sold off on high volume with levels of support being broken solidly, the stock is well below its moving averages. I think this is really a wait and see story here if not a short with a stop at the $52 level. Need to wait and see how volume and price reacts this week to the news to see actionable areas to trade off of. I literally have no clue where to go from here but I will definitely buy in at the $43 range