SSS - Lululemon Athletica (LULU) Shortable Gap-Down on a Head & Shoulders Breakdown
Lululemon Athletica (LULU), which has been forming a head and shoulders top formation for most of 2013, is gapping down this morning after announcing earnings. The move has taken the stock down through the lows of the right shoulder in the pattern, and it is currently trading at around 64-65, such that this puts it in play as a short-sale target and a shortable gap-down situation. We see the stock as shortable using the intra-day high as your guide for an upside stop. We currently have a position in the stock.
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