Lululemon Athletica Inc. (LULU) edged slightly lower in recent intraday trading, with the primary short-term bearish trend remaining firmly in control. Price action continues to move alongside a descending trendline that supports the current downtrend. Additional negative pressure persists as the stock remains below its 50-day Simple Moving Average (SMA), reducing the likelihood of a sustained recovery in the near term. Meanwhile, momentum indicators have reached extremely overbought territory and are beginning to generate a bearish crossover, further reinforcing the negative outlook.

Therefore, our outlook remains bearish for the stock's upcoming trading sessions, as long as resistance at $124.40 remains intact. Under this scenario, the stock is expected to target support at $104.50.

Today's price forecast: Bearish.