Watch this level in Lululemon's stock as fellow athleisure giant Nike reports $LULU $NKE (via TradingNation)
on Monday with a $227 price target, closed the day at $195.18.
"The level you want to watch on a trading basis is $187," Wald said. "That's where the stop post-earnings in September gapped above. Now, more recently, it's coming down, filling that gap. That level often lends support. I think you buy this pullback in anticipation of what is still a longer-term uptrend pointed higher."
"As a value manager, we would be neutral at best over the next three to six to nine months" on the entire athleisure group, he said in the same interview.
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