Lululemon Athletica LULU traded over 16% higher on Friday morning, after reporting earnings that beat Wall Street estimates.
The company recorded earnings per share of $0.55 and total revenue of $649 million, above analyst expectations of $0.46 and $615 million. Same store sales rose 20%. Lulu provided Q2 guidance of $0.46-$0.48 and $660-$665 million, above analyst expectations of $0.45 and $651 million.
In analyzing the market cycles on the Lululemon chart, we can see the stock is in the rising phase of its current cycle. However, it is now near the 161% Fibonacci extension level and appears overbought. This suggests the stock may stall in the near future, followed by a minor correction. For an introduction to cycle analysis, check out our Stock Market Cycles video.
Lululemon Athletica Stock Chart With Weekly Bars
Related Links:
Bernstein Questions The Sustainability Of Lululemon's Momentum
Mid-Day Market Update: Lululemon Surges After Strong Q1 Results; Kitov Pharma Shares Plunge
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.