Lululemon Athletica Inc

The downtrend remains intact with lower highs and lower lows confirmed, and price is range-bound around the declining EMAs with neutral momentum readings. Medium-term bias is bearish, and short-term offers no clear impulse. We defer execution until rallies into the 9/20 EMA resistance zone provide a trimming opportunity against the prevailing decline.

• ↑International revenue grew 22% in China, hedging North American slowdown
• ↑Plans to increase new styles to 35% by spring 2026 to boost engagement
• ↓North America revenue fell 3%, consumer caution weighs on growth