Lululemon Athletica (NASDAQ: LULU) Stock Weekly Chart
Lululemon Athletica (ticker: LULU) is on the rise after the company posted earnings that beat Wall Street expectations.
Based on its market cycles, we see even more upside potential for LULU.
Lululemon reported earnings per share of $0.74 and total revenue of $782 million, compared to analyst estimates of $0.70 and $756 million. Management increased its estimates for revenue and earnings, although not enough to exceed consensus estimates.
CEO Calvin McDonald said that, “Lululemon continues to see strong momentum across the entire business.”
Our analysis focuses on the market cycles for Lululemon stock price – LULU. Since it just began a new cycle, we see higher upside potential. While this was on our list of “Riskiest stocks for 2019,” the technical patterns and direction for the company have improved.
Our new target target for Lululemon stock is $202.
For more from Slim, or to learn about cycle analysis, check out the askSlim Market Week show every Friday on our YouTube channel.
Twitter: @askslim
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
