Hello,
In a nutshell, this company has taken a beating and now has a poor credit rating and IMO maybe looking or already thinking about bankruptcy.
What happened
Under Armour (NYSE: UA) (NYSE: UAA) opened lower today (May 21st), with both share classes down around 8% in early trading, after the company announced a convertible senior note offering. Both stocks...
very significant trend break today on very nice volume.
Indicators reversing bullishly .
15% Short interest can help ignite a reversal rally.
The market has began to rotate out of tech into these beaten down sectors.
Hello !
Key points
Triple bottom pattern
Price rejection
Significant support zone
Hourly chart : On that timeframe, we get a confirmation from the price rejection we see on the daily chart. The stock gapped down, triggered stop-losses and panic selling. Afterwards, we see a wide bullish candlestick (kind of "Tweezer Bottom") that has approximately the same...
- Under Armour has fallen 3.3% in premarket trading because it's reported worse than expected quarter losses. Net losses totalled $559.7 million
- It's laid off workers and borrowed new money to try and sure up its balance sheet and lower its expense base.
- Overall its been under performing the S&P 500 and we are sitting at 2011 stock prices. From a...
I'm bearish on this company but you gotta go with the chart read. Looks like a continuation triangle, will throw in a small bet on calls next week. Earnings Tuesday BMO.
I will kick myself if I'm wrong because I usually flip UAA puts for fun.
UA likely to correct to 15 or lower post-ER.
– major formation bust since August last year, stock was not able to recover
– MACD bearish
– MAs super bearish (turned off in this chart)
– stock is now below 'Century VWAP' pre-ER (bearish)
– RSI super bearish
This post will be updated continuously when mentionable changes can be observed.
WEEKLY + ADX:
Under Armour seems to be finishing wave 2 and formed an inverse H&S with divergence on RSI. MPO of the pattern is just below $28 level. Break of the neckline and 200SMA would be a buy signal, best if confirmed with high volume.
This could be a great opportunity to enter before the main buyers come in. The count is valid as long as level $16 is not broken to the...
