Trade ideas
Analyzing Under Armour4th Pullback since 2008. Secondary indicators show strength. It has broken monthly TL along with $SPY. 200 Wk MA holding. MACD's needs to curl up
Underlying StrengthHigher Lows while MFI achieves Lower Lows. This is a bullish indicator for the long term.
Hidden Bullish DivergenceIndicates underlying strength. Good entry. Typical retracement in an uptrend. Will reverse imo
Watch reversalGap down Bullish hammer indicates capitulation. Stocks and RSI lowest ever on weekly. Bullish div. on Acc/Dis.
Bullish DivergenceAcc/Dis continues to rise regardless of pullback. This IS a bullish indicator w/ a falling wedge break to the upside. Buying pressure is rising.
Broke out of Bullish WedgeBroke out of first Bullish Wedge as a reversal comes in. Stochs indicate well oversold. MFI curling up on powerful weekly.
At SupportMACD curling upwards. Oversold on the weekly Stoch and MFI. Has wedging down handle. Looking for entry. 4-8 Week horizon
monthly perspective20 MA on the weekly has been a good support. so far 77.08 is 20 MA. sky is not falling
UA - UNDER ARMOUR - Reports Earnings Tomorrow It is in a triangle as it awaits its fate, likely to move up or down 5 points on the release and update on its forecast for the coming holiday season.
Nike reported Sep 24 and the stock shot up sharply on strong growth in China. Perhaps UA will do what it seems to do best, follow NKE wherever it goes.... NKE went up so I think UA will go up. Simple logic.
Risk = 10%
Upside = 10%
This is a 1:1 trade, but I think the probability is higher than 50% that UA will beat given that NKE beat. So, if we take enough of these trades it will pan out. If it was 50/50, I'd suggest just going to the craps table instead.
Tim
12:04PM EST 10/21/2015
UA Technicals Weak look forTechnicals weak, 3 days of above average increasing selling volume. Sliced through TL and 50D (Red). Look for possible gap fill and or test of 100D (Blue)
Look for leaders to fill their gaps.In a plunging market , look for momo leaders like UA to fill their gaps.
UA Gap and GoUA moving higher, this is a trade you can take in a few ways.
1. Wait for today to close and then watch for tomorrow if breaks todays high then take the trade long
2. Wait for today to close and then watch for pullback, when bounces (pivot) buy on bounce which happens often around gap as support
3. Wait to see if fills gap then don't trade off that.
The gap and go is strong
Long UAPrediction:
1). Back to the central line in three weeks.
2). Target price $85
Signals:
1). MACD positive
2). RSI uptrend
3). At the lower price channel
