Chopstick_Charlie

UAA, bullish retest falling wedge.

Long
NYSE:UAA   Under Armour, Inc
Under Armor, a stock I have been watching closely.
Multi-year falling wedge breakout and retest. Volume is screaming capitulation coming into 07 high of $9.28.
RSI on the macro TF'S are oversold so I am very interested.
Trading at a lower P/E ratio than peers in the sports brand sector.
10 SMA tracking sideways indicates a sideways moving market and we are certainly at the lows of the range ($7.15-$27.5) so slowly nibbling into weakness is the way I'm playing.

Initial targets of the 10 SMA lining up with the eq of the range at $17.30.

I'm not really a big harmonic kinda guy but we have a bullish shark in play, SL-$5.97 TP1-$16.41 TP2- 26.19
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