LuluLemon $LULU has found its footing after sliding sharply since the 2016 high just below 82. It fell to a 2017-low of about 47.25 and rebounded. However, I would not call LULU bullish yet. It is essentially "fairly priced" as it trades around the 200- and 100-day simple moving averages within the context of a ranging market .LULU Daily Chart(click to enlarge)Ranges:- The daily chart shows that LULU has essentially been jumping around different bands of price range. - The latest range is between roughly 56.60 and 63.85. - A break above 64 would open up the 70-72 area. - A break below 56.50 would open up the 47.25-48 area. Middle Range:- Within the 2017 price range, LULU is essentially at "fair price" or "equilibrium price" because it is in a range that is in the middle of the larger range. - When we look at the weekly chart, we can see that the 2017 range is essentially in the middle of the 2011-2017 range. - This basically says that price is in the of a 7-year price range. This is why I say it is "fairly priced" without any actual valuation. LULU Weekly Chart(click to enlarge)