Under Armour Inc
Short Term - We look to Sell at 9.16 (stop at 9.59)
The primary trend remains bearish. Bespoke resistance is located at 9.25. Resistance could prove difficult to breakdown. Preferred trade is to sell into rallies.
Our profit targets will be 8.06 and 7.50
Resistance: 9.25 / 11.50 / 18.00
Support: 8.00 / 6.00 / 3.00
Please be advised...
Technical Analysis (TA)
Price on the weekly bottomed out with some reversal signs on the weekly chart.
Daily is being squeezed and there is potential for a mean reversion/breakout above $9.75 which might shift the moment to a Long with some key levels at $11 and $12.80.
Price Target
Entry $9.75
Target 1: 121.60 (+18%)
Target 2: 14.80 (+50%)
NYSE:UA
Possible Scenario: Long
Evidence: Price action, Money-flow, Double Bottom reversal pattern, Oversold dead cat bounce scenario
Entry Point: 17.10$
TP:17.59$
TP2:18.04$
TP3: 18.45$
*This is my idea and could be wrong 100%
*I'll update this post if I open a position based on Entry point; if it doesn't hit it, the Idea is void.
Will be trading this via the Janurary 20th, 2023 CALLs at the Strikes of $9-$10 As we Potentially Double Bottom while Testing a Previous Resistance Zone as Confirmed Support.
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...
I love under armour the company is always innovating, and the sales are strong every quarter, so this we have a good one here, 2 Flags, the movement should be relatively faster.
After beat earnings, stock down significantly.
SELL VOLA on FAIR VALUE -> Short 11/03/2022 16PUT provides 8% protection on weak momentum
IV30 % Rank: 69%
Earnings watch 2/11 pre-market:
UA
CLF
GT
MGA
APO
BYRN
NWL
AB
D
ENB
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt...
I've been looking at Under Armor.
I think that it has been doing great the last few days despite all the fear in the market.
In my opinion this is a great swing trade opportunity.
In fact i have a strategy for both cases, either short or long. But if you put a gun to my head and make me choose, i think it's a bigger chance to go up.
If the support line holds...
Long going into earnings in a couple of weeks, should head to the same spot pre-earnings
They've actually turned this crap company around and they beat every quarter. If I make money on this trade, i might even drop a few bucks for earnings.
Got hammered along with retail and small caps, expect a bounce next week. Daily got oversold on RSI with positive MFI divergence
