Lululemon (LULU) Has Limited Upside
If someone made a bet with you, and you should to lose $12 at the chance to win $4 would you take it?
That is the risk-to-reward scenario that Lululemon Athletica (LULU) is offering at this point.
Or what I would call an unfavorable 3-to-1 Risk/Reward setup.
So while it is in this large scale chop - look for limited upside of $78 and a possible downside of $62 - better yet - just don't trade it.
Here's the technical analysis on LULU: