Lululemon shares gain for a second straight session on Tuesday, Sun Choe appointed as Chief Product Officer

Lululemon Athletica Inc (LULU) announced on Tuesday that it had appointed Sun Choe as its new Chief Product Officer. Choe became part of Lululemons team in 2016, assuming the role of Senior Vice President of Global Merchandising.

Lululemon shares closed higher for a second consecutive trading session on NASDAQ on Tuesday. It has also been the sharpest daily surge since September 10th. The stock went up 1.97% ($3.06) to $158.44, with the intraday high and the intraday low being at $158.94 and $153.80 respectively.

Shares of Lululemon Athletica have risen 101.60% so far in 2018, after surging another 20.93% in 2017.

Before her engagement with Lululemon Athletica, Sun Choe was Chief Global Product Merchant at Marc Jacobs. She had also assumed senior merchandising roles at brands such as West Elm, Urban Outfitters and Madewell.

“Sun has a proven track record leading world class product teams and her leadership has helped fuel our current success. I’m confident this is just the beginning of what Sun and her team will create for our guests,” Calvin McDonald, Lululemons Chief Executive Officer, was quoted as saying in the companys press release.

According to CNN Money, the 30 analysts, offering 12-month forecasts regarding Lululemon Athletica Incs stock price, have a median target of $160.00, with a high estimate of $200.00 and a low estimate of $75.00. The median estimate represents a 0.98% upside compared to the closing price of $158.44 on September 18th.

The same media also reported that 18 out of 36 surveyed investment analysts had rated Lululemon Athletica Inc’s stock as “Buy”, while 15 – as “Hold”. On the other hand, 2 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the Lululemon stock are presented as follows:

R1 – $158.91
R2 – $159.38
R3 (Range Resistance – Sell) – $159.85
R4 (Long Breakout) – $161.27
R5 (Breakout Target 1) – $162.92
R6 (Breakout Target 2) – $163.74

S1 – $157.97
S2 – $157.50
S3 (Range Support – Buy) – $157.03
S4 (Short Breakout) – $155.61
S5 (Breakout Target 1) – $153.96
S6 (Breakout Target 2) – $153.14

By using the traditional method of calculation, the weekly levels of importance for Lululemon Athletica Inc (LULU) are presented as follows:

Central Pivot Point – $153.41
R1 – $155.94
R2 – $158.18
R3 – $160.71
R4 – $163.25

S1 – $151.17
S2 – $148.64
S3 – $146.40
S4 – $144.17