After a strong fourth quarter rally, Lululemon Athletica's stock chart shows signs of a potential bearish trend. Technical indicators suggest the uptrend phase may be over, with resistance levels failing to be cleared and a sell signal from the PPO indicator.
While retail stocks have been struggling for much of the past 12 months, one apparel maker bucked that bearish trend and mounted a significant rally in the fourth quarter: Lululemon Athletica . Our recent review of the charts tells us that, unfortunately, the uptrend phase may be over. Since the end of 2023, the S & P 500 has gained around 24% while the Nasdaq 100 has outperformed slightly with a 26% advance.
then traded right up to the 61.8% retracement level around $406, which ended up being the likely end of the bullish phase. After first testing the $406 resistance level in early December,
LULULEMON STOCK CHART TECHNICAL ANALYSIS BEARISH TREND
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