The share price of Lululemon $LULU rallied sharply to begin the 3/28 session after its earnings report in the previous evening. Here's a summary from CNBC:Here’s what the retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.85 per share, vs. $1.74 per shareRevenue: $1.17 billion, vs. $1.15 billionSame store sales: rise 16 percent, in line with estimates“Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business,” CEO Calvin McDonald said in a press release. “We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.” In the quarter ended Feb. 3, Lululemon said net income rose to $218.5 million, or $1.65 per share, from $119.8 million, or 88 cents per share. Excluding items, the retailer earned $1.85 per share, topping estimates of $1.74 per share. Strong sales during the holiday quarter helped the company reach its goal of exceeding $1 billion earlier than expected. Revenue rose to $1.17 billion from $928 million in the year-ago quarter. Lululemon’s Chief Operating Officer Stuart Haselden said the company’s operating margin was 21.5 percent, another goal it reached two years ahead of schedule. Sales at stores open at least 12 months rose 16 percent, in line with estimates. After adjusting for currency fluctuations, same-store sales were up 17 percent. Both measures exclude revenue from the last week of fiscal 2018....In fiscal 2019, the company expects to report earnings of between $4.48 and $4.55 per share, ahead of analyst estimates of $4.40 per share. Lululemon expects revenue in the range of $3.70 billion to $3.74 billion, higher than the forecast of $3.27 billion. For the first quarter, Lululemon expects to see revenue between $740 million and $750 million, in line with estimates of $743 million. The company sees earnings per share between 68 cents and 70 cents, slightly higher than the 67-cent expectation. The retailer also announced a $500 million stock repurchase program....From: Lululemon shares soar 10% as strong holiday sales fuel earnings beat (CNBC)It looks like things are going well for Lululemon in all fronts, except in Europe where it operates at a loss. As LULU surges into new all-time-highs, the $150 pivot will likely become a key support for further bullish outlook.LULU Daily Chart(click to enlarge)Leaving Consolidation Mode:- As we can see on the daily chart, price was bullish in 2018 until the October correction. - But since late 2018, price has been rebounding, although it could still have been within the mode of consolidation.- There was some clue that bulls were back in charge however when price started to hold above the 200-day simple moving average (SMA). - Another sign in hindsight, was that the RSI held above 40 after tagging above 70 in January and February. This was a subtle sign that bullish momentum is sticking.- During the consolidation from late-January to late-March, $150 was the middle of this range. It was also a previous support pivot and a psychological level.- As we can see price jumped above this price during the 3/28 session. - Now, if price pulls back possibly due to profit taking, or due to general risk aversion, we should anticipate support around $150. - I think if LULU is still bullish, it should hold above $150. - Perhaps, there could be some more "elbow space" for the support in case market risk aversion is strong. I think it would take a break below $140 to kill the bullish outlook.