Lululemon Athletica (LULU) NewsBite - LULU Hits 52-Week High

Posted: Tuesday, October 27, 2009 1:10 PM EDT

Lululemon Athletica (NasdaqNM: LULU) hit a new 52-Week high of $28.86 so far today. Currently the stock is up $2.35 (9.14%) to $28.06 on 2,292,034 shares traded. Today's high is up $23.73 from a 52-Week Low of $4.33. Lululemon Athletica stock has been showing support around $25.06 and resistance in the $26.52 range. Technical indicators for the stock are and S&P does not currently have a STARS rating for LULU. The stock is trading sharply higher after the company raised its third quarter guidance and sees same store sales rising in the quarter instead of remaining flat as previously expected. If you are looking for a hedged play on LULU the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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