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Chart of the Day: Lululemon Could Be Running

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Lululemon spent more than half of 2023 in a range, but now it could be starting to run.

The first pattern on today’s chart is the bullish gap after LULU was added to the S&P 500 last month. The stock pulled back in late October, made a higher low and proceeded to a new 52-week high. That may suggest it’s trying to break out.

Second is the …

For more, please click here to view the related idea and chart analysis on TradingView.

Lululemon Athletica (LULU), daily chart, with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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