JCP
Long

UA Technical Dip-Buy Opportunities

BATS:UA   UNDER ARMOUR INC
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Trade Recommendations: Buy at Spot on Nov 26@52.74. Price target 62.5 by Mpril 2013. Stop Loss at 45

Fundamentally I like UA because they can pose a threat to nike with their upper middle echelon product. It is also now diversifying into products other than football, such as basketball and soccer. It also aims to become a traditional sports giant like Nike and Adidas by opening up its own stores.

The RSI has multi-month support around 50 line. Now that it has taken a brief dip below 50, UA will continue to rally . Not that the RSI bounced between 70 and 50 between mid 2011 and how, while UA steadily rallied.

The Stochastic indicator says that UA is oversold, and is now exiting the oversold territory, and poised for rally

MACD Histogram is very negative, so it signifies that the fast blue line will soon rise up to catch the re line.

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