Lululemon, is a Canadian multinational athletic apparel retailer headquartered in Vancouver, British Columbia, and incorporated in Delaware, United States, as Lululemon Athletica Inc. It was founded in 1998 as a retailer of yoga pants and other yoga wear, and has expanded to also sell athletic wear, lifestyle apparel, accessories, and personal care products. The company has 711 stores and also sells online. The current price is $166.13 and trading below the falling 40 week moving average at 247.50. This stock traded to a high of $516.39 in December 2023 and since then has been in a sharp bear trend.
The MACD-V indicator is now at minus 137 and climbing, which suggests that a recovery could commence soon. Strong support is to be expected around the $148 level, which marks the Fibonacci 78.6% retracement from the high, based on the entire $516.30 -$ 47.73 range traded since April 2017. The weekly choppiness index has now recovered from a record low of 26 and is now at 41, which suggests that the current bear trend is showing signs of exhaustion. Should support hold at $148, expect a recovery towards the $226 area which marks the Fibonacci 61.8% retracement level over the aforementioned trading range.
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