LULU is one of high beta trend-follower stocks that hasn't (yet) broken down like some of its peers (NFLX, GMCR). it's trading at a lofty valuation and technically speaking looks precarious to break below its 2011 uptrend line…see the weekly chart below.
the second chart shows this in a daily format and also highlights the 50 and 200 day moving averages. a break below the uptrend line may also result a break of the 200 sma.
the stock may be an interesting short below $48.