Volume has been falling and oscillators are resetting. If we break below the 50 EMA on strong vol. we will head south. Likewise an upward break above 60.96 will resume the bullish trend. Definitely keeping my eye on this one.
The gap closing is a red flag. Possible 1 yr H&S. Things look pretty dire under 44. Over 52 they look much better. 42, 39, 36, 30 if it heads south. We'll see
The chance for a bounce is very high after today's high wave candle. last 3 peaks down the stock made two lower lows and two lower highs. Though last two bounce were above 12%, expect 1/2 which gives us a short term bounce to $50 area with stop loss 46.11. The stock is in downtrend and under aggressive distribution. This is a short term trade.
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...
Retailers are my passion, and I have always pulled from great intuition to determine am I loving it or not. And with $UA, they could so screw things up by an advertisement or even an athlete that misbehaves. So, be happy you particpated, if you did, when I first pubished $UA back in the day. Look for more. Follow me here on TradingView and if you need to reach...
UA IS taking a pullback, but I predict it will have great performance when the earnings call come on Oct 25th.
1. nike is being hurting its brand by issueing crap like 350 dollar lebron basketball shoes.
2. back to school shopping is huge for UA
3. UA is diversifying its products into non-football components.
Accumulate shares now. Wait for pop in Late october.
