UAA has been in long term down trend. Now I'm looking at the possibility of reversal breakout.
- weekly chart touching the upper line of descending channel. - daily chart is showing a gap-up with strong volume.
CAUTIONS - UAA's down trend has been solid. - UAA's fundamental is still disappointing in terms of growth rate of revenue, eps. - However, short term chart shows institutional demands. - check if breakout of upper channel line occur with strong institutional buying.
Trade closed: stop reached
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Downtrend was too strong to break out. Wait for the earnings call.