Lululemon is rallying, and history suggests a double-digit surge ahead


Lululemon is doing some heavy lifting after reporting earnings.

The yoga apparel stock was up more than 7% after the bell Thursday following a profit and revenue beat in its recent quarter. Shares have surged more than 50% this year, one of the top performers on the Nasdaq 100.

Miller Tabak equity strategist Matt Maley says history points to another double-digit surge until it hits a wall.

“The stock has ‘gapped’ higher on earnings five other times since the beginning of 2018. Each one of those ‘gaps’ was followed by a rally of 17% to 27% from the previous closing level before it took a breather. Previous performance is not indicative of future results, but if history is any guide, the…

Source cnbc.com

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