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PreMarket Prep Recap: Higher Guidance, Higher Prices For Lululemon, Beyond Meat Cracks $100 Again

PreMarket Prep Recap: Higher Guidance, Higher Prices For Lululemon, Beyond Meat Cracks $100 Again

With calm on the geopolitical front over the weekend, it was all about finding a few issues with catalysts on the up side on today's PreMarket Prep Show.

Another Leg In The Rally For Lululemon

Before the open, Lululemon Athletica (NASDAQ: LULU) raised fourth-quarter EPS and sales guidance above Wall Street's estimates.

With the issue trading at an all-time high during pre-market trading, co-host Dennis Dick stated he wasn't sure where to try a long in the issue, but wasn't going to try and pick a top. "I have lost enough money trying to short issues at all-time highs and I am not going to repeat that mistake today," he said.

For those investors looking to attempt a trade on the long-side, a retreat to its former all-time high ($239.47) as a level to attempt a lower-risk long entry was discussed. As it turns out, the issue opened just below that level, retreated to $238.11 and has rallied into the mid-$240 handle.

Beyond Meat To Go Beyond US Borders?

The announcement that China's main competitor to Beyond Meat (NASDAQ: BYND) was seeking funding to introduce plant-based foods in that country has added fuel to issues furious rally.

Along with short sellers scrambling to cover their positions, other investors are purchasing the issue in anticipation of the company eventually being introduced in China.

After a higher open, it had a brief pullback to $98.80 and resumed its rally, before blasting into $100 handle. It has continued to make news high for the session as $110.69 stands as the current one with three hours remaining in the session.

It's now poised to post its highest close since Oct. 28, when it ended that session at $105.41. It should be noted the issue swooned to $81.99 the following day following its disappointing earnings report.

Ryan Craver: Retail Expert And Founder Of Commerce Canal

Midway through the broadcast, Ryan Craver, retail expert and founder of Commerce Canal joined the show. He provided insightful commentary and confusing retail sector and shared a few of his picks and pans.

At 8:35 a.m. EST on Tuesday, Nic Chahine, the author of Create Income Options Spread will reveal a few of option strategies for this market environment,.

Posted-In: PreMarket PrepLong Ideas Technicals Movers Trading Ideas Best of Benzinga


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