Don’t let $UA fly UNDER your radar – March 11, 2021
JA
This is Scott with the Chart of the Day. I want to take a look at Under Armour ( NYSE: UA ). I want you to keep an eye on this chart, not let it fly under your radar, because it is printing some pretty tight price action.
You can see here since its earnings it’s really just kind of going sideways. It is building a nice sideways base of consolidation. So far this base has lasted about 30-days and so I want to keep an eye on this stock because I like the fact that it’s holding up in trend above all of these moving averages. And even in the market volatility, it didn’t once close below its 21-day exponential period moving average, which is the gray line here.
With gyms opening up and summertime coming there might be a reflationary trade with Under Armour ( NYSE: UA ). I see some clearly defined levels of resistance right there, right there, right there, right there, right there, and it’s close to that level now. I want to see this stock get above and stay above 19.60 and do it on higher than average volume.
I am going to set an alert right there for about a month or so and wait for it to trigger. I want to see it get above and stay above and do it on volume. So there is a ticker to add to your Watch List and we will see how this plays out.
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