Buy It Here: $LULU Crushed On Earnings *PIC*

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Shares of Lululemon Athletica inc. (NASDAQ:LULU) became the latest retail casualty after reporting disappointing earnings results. The athletic apparel maker dropped over 20% to $52 from a closing price on Wednesday of $66.30. This free fall will take the stock below a major support line (seen in the chart below), triggering continued selling in the coming days. Investors would be wise to stay away from bottom fishing until Lululemon Athletica inc.hits $37.00. This will be the longer term accumulation zone. A day trading scalp level today for aggressive investors would be $49.85. Look for a quick Dollar bounce off that level.

Stock investors chart buy level on Lululemon Athletica inc.

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