Long Position on LULU @ $75.48 on 9/21/2012 (Momentum)

Lululemon athletica (LULU) designs, manufactures, and distributes athletic apparel for women, men, and female youth. The company’s line of apparel and accessories include fitness pants, shorts, tops, and jackets for healthy lifestyle activities, such as yoga, running, and general fitness.

Its fitness-related accessories comprise bags, socks, underwear, yoga mats, instructional yoga DVDs, and water bottles. The company sells its products through a chain of corporate-owned and franchise stores; direct to consumer through e-commerce; and a network of wholesale channel, such as yoga studios, health clubs, and fitness centers.

As of January 29, 2012, it had 47 stores in Canada, 108 stores in the United States, 18 stores in Australia, and 1 store in New Zealand under the lululemon athletica and ivivva athletica brand names.

Shares have formed a bullish "flag" and are ready to move higher out of this formation. 

52-Week Trading Range:  $41.70 - $81.09

Last Trade:  $75.48

Stop Loss:  $71.70

Price Target:  $83.02

Position closed on 10/19/2012 at price of $71.70 with a -5.01% loss in 28 days.

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