Underarmour
Under Armour with biggest gain in a monthStill plenty of overhead resistance, but a good start to 2017. MACD is bullish and trending up
Looking for swing trade set up on UAALooking for bullish bounce off support. If not trend breaks support looking to go bearish.
LONG UA BIG PICLong UA! It was sold off hard the past 3 earnings and its pretty attractive at this price point. I personally own 500 shares @$31 for a long term hold :)
Usually does well during winters with exception of inventory management problems last year due to abnormally warm winter, see green circle! Predicting a blue circle this time instead!
MACD on weekly turning + RSI shifting up from Oversold with declining volume + Strong n steady uptrend support line, my personal TP $43 for now
Long UA.Technically Speaking
So far holding support in the 30 area. The R/R favors a long position, IMO.
I am long and looking for a move above the 52.50 level.
I will start to scale out of this position under 27.50.
Under Armour looks in trouble.Technically Spekaing
Price is in the support zone 30-32.50 right now. This will be the 3rd week in a row to close under the 200 WMA. The last weekly close under the average was back in 2011.
A break under the 30 level could see a move toward the 22.50 level, 25% to the downside.
What to do?
Aggressive traders could take a long here, with a tight stop under ~28.
I am going to wait and see these levels hold.
A move to 22.50 would seem like a gift to longs, although what would that say about the future potential of the company? Something to think about.
$UA - Wave 5 initiation as we approach earnings on July 26, 2016Ever since UA had a 2/1 split early April, prices have been gradually dropping and it seems as though a a halt has initiated a reversal preventing us from touching ur Jan. 2016 lows of ~$31, and I believe that was the end of our Wave 4 ABC correction. Looking back to 2014-15 we see a healthy wave 3 which can be subdivided into 5 smaller waves. Wave 5 (in wave 3 marked green) is an impulse wave further divided into 5 waves. Interestingly enough the wave 5 extension is very similar in size to our original wave 1.
All in all I believe that wave 4 correction has come to an end and we are starting our last wave 5 which should be approaching the $53-$56 range. Earnings will be reported later on this month and think we should have a nice bullish trend if earnings are impressive.
A little bit about the company: Under Armour has recently shown signs of dominance in the sports apparel industry pushing Nike off its thrown. Signing professional superstar athletes (Curry, Harper, etc.) and collaborating with Universities (UCLA NCAA sponsorship) UA has tapped into a new crowd of customers. Endorsing Steph Curry alone UA's basketball shoe sales have increased by 350%. This company has a future and is growing fast and I see a nice bullish trend continuing for quite a while.
Short position on Under Armour NYSE:UA
I believe that that the sports authority bankruptcy will have an affect on Under Armour's stock price
