LULU announced positive earnings after hours on Wednesday 12/6 and with the stock surging on Thursday I sold most of my position, about half on the open at 73.23 and a quarter at 72.10. With my original target around 71.50, anything at these levels is icing on the cake. Looking to close out the position on continuation to the upside or if it breaks below Thursday’s low of 71.29.
I’ve been holding LULU since October 23rd when it broke out of the 4 month range of 56.56 and 63.86. Initial buy was at the price of 64.24 and then added some on November 2nd at 60.89 for an average price of 63.15. In planning the trade, I targeted approximately 71.50 to take profits and using 59 (low price of 10/18) as a stop.
LULU ended the trading day today at 66.36 and is scheduled to report earnings tomorrow, 12/6/17, after the bell.