No Bounce in Store for lululemon (LULU); Shares Move Below Key SMA

October 22, 2012 11:24 AM EDT
lululemon athletica, Inc. (NASDAQ: LULU) shares are continuing to slide Monday, moving below a key support level.

Shares are on a three-session slide amid comments from Credit Suisse issued last Friday. CS questioned recent discounting practices. Investors took notice, sending the stock 7.5 percent lower on the session.

Today, lululemon is getting below the 200-day SMA, which is currently calculated at $67.44 or so. The stock is down 2.5 percent with average volume.

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