Lululemon Athletica Inc Continues To Be A Downward Dog
This morning, leading athletic apparel manufacturer and retailer Lululemon Athletica Inc (NASDAQ:LULU) is declining lower by 0.83 cents to $44.05. The stock price of Lululemon Athletica Inc topped out in June 2013 at $82.48 a share, so the stock has steadily dropped over the past year. It should be noted, stocks that are in solid down trends such as Lululemon Athletica Inc are very difficult to find solid support levels for a buying opportunity. Often, traders and investors must look back at the charts and see where the stock based or pivoted in order to find solid support. The charts are now saying that Lululemon Athletica Inc stock will be supported around the $41.00 level. This is an area where the institutional money will likely defend the stock in the near term. Should that level fail to hold as support the next major support area will be around the $33.00 area. Either way, Lululemon Athletica Inc stock still has further to decline in the near term before the big money steps up and defends the stock.