IamNomad

it not dead yet jim. $UA

NYSE:UA   UNDER ARMOUR INC CLASS C
94 0 3
UA             today set investor expectations that future growth would not be as large as the last two years. It made its rounds in the news and lead to an 8 hour sell off.
However, if you look over the pure financials, UA             has consistently met or beat earning expectations. The talking heads were quick to calls this a "junk stock" but one mans trash is another mans treasure..


Today's sell off stopped exactly on top of local low order block If more bad news doesnt come out of UA             and christmas number look reasonable , i could easily see this retaking the ~38 level. Also still above the 2 year ascending trendline . I would watch and wait..

Another nice thing is the overall dollar flow for past 2 years has been most good to bullish . Also this stock tending to follow the common "buy rumor , sell news" models of the earnings . So this is not unusual. (with the exception i noted on a previous chart)

The 3d stochastic is about as low as it can be. Since this is my "divining rod" in all markets, i would look to see something above 20 because taking a 'real' position.

a break of the current order block signal it may want to test the regional low of 28.34

Comment: bids filled at 30.
Comment: i should update.. closed 32.. seems like it will be in the order block for a while.. will buy 30 again if it make sense though
Comment: support at 29 seems to be holding so far
Comment: bid filled at 23.5
Comment: haavent updated this.i sold at 28.5 . I didnt like all the bearish retail news being carried around by bloomberg about 25% lower market expectation. the retails sector responded and dropped . the TA above still stands and i will probably look to buy that range again
Comment: debating about reentering at the same level, idea is still good based on current news.
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