SSS - LULU Short-Sale Set-up from this A.M.: Chart Analysis
LULU continues to find resistance at its 50-dma after violating it for the first time since late summer 2010. The stock failed from a four-week flag formation adn broke down below the 50-dma. After one gap-up on earnings that found resistance at the 50-dma, the stock again ran into the 50-dma yesterday and is now breaking down again today as volume increases. The ultimate downside objective would be the 200-dma, using the 50-dma as your max stop on the upside.
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