Pretty good liquidity on UAA weekly options, this one might be a good short term trade (as in 2 - 3 days). I'm already in this morning but you may want to see how the day ends.
UAA goes gap with the market, so if they pump futures on Monday this will gao up. Overvalued though, based on this blowout quarter it's got a P/E ratio of 33 and no dividends.
The stock has been hyped up quite a bit latley but the chart is showing a triangle between a short term support and a long term resistence.
This long term resistence was tested once before with an alomst identicle pattern in Octover 2016 - see white trend line .
Tempted to go in on some puts here.
you fooled me once stupid stock. this time i will have the last laugh! i am thinking that my timing was off , if it keeps dropping i believe UAA would be overextended too the downside so even if this stock is going down a counterbounce should be in order
market = -1 (i think the overall market sp500 will stand still or drop within short time)
timing = 1 (if the ...
under armour is acting strange, its not in sync with the market which is interesting, the stock already lost 78% of its value these past 2 years so a bounce should come. Question is how big should that counterbounce be and if 25$ was all she wrote.
Volume = 0
Group strength = 1
Timing the market -1
Abcd pattern = 1
Fractal = 1
UAA has had a minorly positive earnings report and has been in a nice uptrend since. After breaking out a few times and now forming the same technical pattern again I wonder if past events will repeat? We shall see...
Looks like under armor is ready to move up:
Down trend line broken
Prices broke above 200 EMA
RSI bottoming at 40% (bullish sign)
Yesterday's close was above resistance level of 18.40$
Target(s): 20.9$, 22.50$
Stop Level: Close below EMA50 (currently 16.88$)