Under Armour $NYSE:UA. Price may break my historical simple moving average area/lines and dip into the low $6s, but the convergence of price with these lines often means a future price increase. Fundamentally, the stock continues to surprise with earnings beat after earnings beat. While economic headwinds are likely ahead in the retail market, global exposure may ease the likely troubles. Starter position entered at $6.74.
Targets
Targets
- $7.50
- $8.00
Note
Added another strong position at $4.95 after earnings. Plan to sell out of original position and hold this one if the price spikes in the near future.Trade closed: target reached
Target #1 reached resulting in a +11.3% gain from original write-up. However, real gain is 51.5% after selling the $6.74 position and keeping the $4.95 position. Exiting fulling since it has reached the top of my historical simple moving average band (i.e. resistance).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.