UAAWeekly puts for the double or nothing trade. Looks to me like it just triple topped, a week before earnings...
UAA trade ideas
UAA UpdateWell here we are at the 2 year double top. Expecting an exhaustion gap and reversal Monday, if we get it, I'm buying puts in the afternoon. I would not hold a short position into earnings July 25th because long term chart looks like an inverted head and shoulder (topped out in 2015).
RSI overbought with MFI divergence as well.
Financials look like crap but the market hasn't been trading on fundamentals since Trump took office. NKE is at ATH despite missing earnings, PE of 35, dividend payment of 1%. It shouldn't be trading at half of that, lol, but they have to pump the indices somehow (NKE being a Dow component of course). Just looking at UAA and NKE, you know the market is set up to crash eventually, literally needs to be cut in half to justify valuation.
Buffett indicator is at 145%, that guy's heck of a lot better at this stuff than I am...
Under Armour: Great brand, huge long term bullish trend...I think $UA is acting very strong here, it managed to shake me out of a long position at break even 2 months ago, but after July's surge, a long term Time@Mode trend signal kicked in. Upside in the stock is tremendous, adventurous traders could follow this monthly trend going long around here, or lower, with a rather tight stop @ 20.23. A larger wiggle room would be better for more conservative traders (and thus smaller size, with up to 2% risk if stopped out), setting stops under 18.92.
The trend will remain valid for the next 12 months, after which it might start a large scale consolidation or correction. There's a chance it builds a new trend signal over time and just move higher and higher for a long time (think $AMZN, as pointed out by @timwest in the Key Hidden Levels chatroom today...buying it at $10 a share, when it was cash flow positive ended up being an insanely good long term investment...).
Best of luck if buying into it here, whatever your risk profile is.
Cheers,
Ivan Labrie.
UAASmall caps going full pumptard, on top of that, NKE misses earnings and still goes up.
UAA will more than likely hit a double top. Not going long, but plan to short when it sets a new high.
$UAA LOOKING FOR A BETTER ENTRY LEVEL ON PULLBACKIt is decision time for analysts in UAA as it has now moved above the consensus target price, this forces the analysts to revise price targets, in the case of UAA we presume that despite the crazy P/E ratio, upgrades will probably be the order of the day. Sentiment has totally changed towards the name in recent times as it has revolutionized its inventory and distribution structure with a massive new fulfillment center and business headquarters. Discounting and high inventory was the cause of margins been squeezed in the past but that is now under control, improving the top and bottom line performance.
From a technical perspective the stock has had a amazing run in the last 3 months and has now broke out, we would suggest that a better entry level will present itself on a pullback to possible test of support.
AVERAGE ANALYSTS PRICE TARGET $22.20
AVERAGE ANALYSTS RECOMMENDATION HOLD
SHORT INTEREST 17.56%
COMPANY PROFILE
Under Armour, Inc. engages in the development, marketing, and distribution of branded performance apparel, footwear, and accessories for men, women, and youth. It operates through the following segments: North America, EMEA, Asia-Pacific, Latin America, and Connected Fitness. The North America segment comprises of U.S. and Canada. The Connected Fitness segment offers digital fitness subscriptions, along with digital advertising through its MapMyFitness, MyFitnessPal, and Endomondo. applications. The company was founded by Kevin A. Plank in 1996 and is headquartered in Baltimore, MD.
UAA 2+ year highNo compelling reason for this POS to be trading at 50+ forward P/E. About to hit the bull flag target, this usually throws an exhaustion gap before a reversal.
I'm gonna wait until tomorrow, but this may be a good entry for some puts. UAA puts have very good liquidity, I've day traded it before. The spread between bid and ask is small for a $10B company.
It's also approaching overbought territory with MFI divergence.
UA NotesI'm always watching under armour because it seems to have so much room to grow.
There is a lot of interesting unexplored territory for the stock based on the chart, but then again that is some pretty heavy resistance it has yet to break.
You can see my previous note on UA but it got rejected off resistance.
#UA is getting ready for an ABC correctionUA is losing its momentum and there is a high potential for an ABC correction.
UAA possible short later this weekUAA is close to the top of its trading range, waiting for an exhaustion gap and reversal pattern, then buying puts.
No position yet...
$UA Under Armour is winning back customers and Brand strength.After the last earnings report we were shown some images of the new UA headquarters and distribution center, which it hopes will propel UA to the next level of service and most importantly stock inventory control. What has been a curse in recent years is the continual discounting of goods to reduce inventory, which in turn has devalued the brand and hit margins. Kevin Plank has reassured investors that has come to a end. They days of been a busy fool, selling a lot for no profit is not sustainable nor compelling to investors. The analyst community has also jumped on board and as of today JP Morgan produced a Overweight rating and a $28 price target. This is a growth company so to invest you must look past the extremely high P/E ratio.
$UA Under Armour maybe has a image problem, but could run up. How often do we see Nike goods sold at discounted rates? not very. Whereas UA seems to always be on sale in every retailer, that is not a brand that people wants to continue to wear. UA's board are working hard to stop this practice as it is just making them BUSY FOOLS, selling a lot but for no margin. The sports sector is dominated by NIke and ADDIDAS and it is hard duopoly to break. Despite this we see a potential return in UA as consumer confience and spending has recovered from the 4th quater of 2018.
Under Armour ShortUnder Armour
Nearing channel resistance at $19.80-$20 area
Tight Stop loss (1%) with a short position off of the retest.
UA in an upward trend at important level.The stock has been rising since the end of last December, and now it is reached a very important level. This level between 21$ and 22$ (21.8$) had a very important role in the last half year. The price has tried to break through it 3 times but it couldn't manage it, however. So we are here again after a 2-month-long upward trend, but it seems the stock struggle to break through again. It has a very rapid rising last week but it couldn't stay above 22$. But this time 21$ (20.93$) supported the stock and it hasn't sunken under 21$ since then. It may indicate the upward trend will continue and this time the stock will be able to stay above 22$ and that means the next stop can at 24$ that means a good opportunity for long.
$UAA Swing IdeaIf it pulls back to $20, then it would be a nice buy. It has to catch up 10 EMA on Daily. Below $20 we have 100SMA & 200SMA.
Under Armour, Inc. There is still have down move. I think it will target 13.00 Dollar per share , Lets see
