I was bearish on LULU in May when price broke below a rising trendline. However, the bearish breakout was brief, and price rebounded sharply in June. By July, LULU came up to a critical cluster of resistance factors. As we start the latter third of the month, LULU has broken above this critical resistance cluster.LULU Daily chart(click to enlarge)Breakout:- The previous resistance pivot around 59.30 is broken.- A falling trendline is broken.- Price is now above both the 200- and 100-day simple moving averages (SMA)- Furthermore, price just tested the trendline, resistance pivot and the 200-day SMA and bounced off of them like support.Upside:- LULU has been in a sideways consolidation mode since 2012. - Without a strong bullish bias, we might want to limit the bullish outlook.- I think we should anticipate resistance if price gets to the 68-70 area, which is an area that has seen much resistance since 2015.- At this point, a break below 57.50 might put a hold to this bullish outlook.LULU Weekly Chart(click to enlarge)