In Wednesday evening’s Forecast Report, lululemon athletica (LULU) signaled a pre-market open Thursday near 28 to 28.20. A possible early long entry point was targeted at 27.95 to 28.10, a range that held steady as a bottom through much of evening trade.
This morning, LULU began pre-market trading at 28.01, right on target. That also proved the low of the early session, though the area was revisited periodically during the pre-bell timeframe. Shares fell to a low of 26.16 during regular trading. But for a quick play, a buy at 28, as measured to the pre-market high of 28.25, was 0.9% in the black. A buy at 28, as measured to the regular-session high of 28.60, was 2% in the black.
