Lululemon Shares Fell 82% From 2023 Peak to October Low

Lululemon (LULU) shares have fallen 82% from their 2023 peak to an October low, and Frank Cappelleri says a new chart setup still needs sustained gains to signal a lasting bottom. Cappelleri, founder and president of CappThesis, sees a possible inverse head-and-shoulders pattern that formed after shares gapped lower in September. The stock first fell 20% from its high in early 2024, entering bear-market territory, but the decline continued. Lululemon’s 14-week relative strength index (RSI), a momentum indicator, first moved below 30 in April 2024.

Source: TokenPost