Lululemon Athletica Inc. (LULU) saw a 10% increase after being written off, thanks to Elliott’s activist stake and a bullish thesis. Michael Burry’s long idea for Lululemon focuses on value and duration, suggesting prices should rise in a few years. The stock’s chart setup showed signs of a turnaround, with short-term trend signals improving. An options trade strategy was used, pairing shares with a covered call to generate income and protect against downside. Consumer behavior and brand loyalty are driving demand for Lululemon, signaling a recovery. Watch for the 200-day moving average and a prior gap area for potential price points.

Read more at Barchart: This Michael Burry Stock Spiked on a $1B Activist Stake. How Our Top Analyst Found the Trade Early.