Lululemon Athletica Inc. ( LULU) is slated to release quarterly numbers after the close of trading Thursday. Let's head to the changing room and check out the charts and indicators. 
In this daily bar chart of LULU, below, we can see a number of trends. The big picture of the trend for the past year is sideways. The trend from May is up as prices have made higher highs and higher lows.
LULU is trading above the rising 50-day moving average line and above the rising 200-day moving average line. The On-Balance-Volume (OBV) line shows a rise from March, which tells us that buyers have been more aggressive than sellers for most of the year.
The 12-day price momentum study shows equal highs in November and early December while prices have made higher highs. This difference in movement is a bearish divergence. This is not a large and significant bearish divergence but it still is a divergence and we should not ignore it.
In this weekly Japanese candlestick chart of LULU, below, we see some chart developments that give us pause. Prices have made a potential harami top-reversal pattern the past two weeks. I use the word "potential" in that we need to see bearish confirmation this week to complete the reversal pattern.
Prices are in an uptrend and trade above the rising 40-week moving average line. The rally has so far stopped short of the early 2022 advance. The weekly OBV line shows a three year rise and has maintained its uptrend even when prices have corrected to the downside. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this daily Point and Figure chart of LULU, below, we can see a potential upside price target in the $467 area.
In this weekly Point and Figure chart of LULU, below, we can see a price target in the $547 area. Impressive.
Bottom line strategy: The Point and Figure charts are very bullish but the other two charts (above) not so much. LULU could move higher but in this "iffy" market environment I prefer to stand aside ahead of earnings this evening.
