UA - LongUA has been severely lagging behind other apparel brands in making price recoveries.
It has just broke out of 23.6% fib, and about to backtest support. I'll be entering a position once it successfully bounces off of 23.6% fib.
0LIK trade ideas
UA Double Bottom IdentifiedHi - First time publisher but have sporadically used Trading View. I have been reading up and studying on technical analysis and from what I am seeing, it looks like I identified a double bottom on a stock I was already bullish on at current levels, Under Armour.
Given a move the same size as the bottom, looks like the PT would land around $13.27 give or take a few cents. I also noticed there does not seem to be much resistence running up to around $15.
Let me know your thoughts whether you agree or disagree!
Cheers & GL
Lando
$UAA Under Armour Upside Target
Possible long on break above FIb 0.236 level
Upside target $11.31- $12.00
short interest high at 14%
Company profile
Under Armour, Inc. engages in the development, marketing, and distribution of branded performance apparel, footwear, and accessories for men, women, and youth. It operates through the following segments: North America, EMEA, Asia-Pacific, Latin America, and Connected Fitness. The North America segment comprises of U.S. and Canada. The Connected Fitness segment offers digital fitness subscriptions, along with digital advertising through its MapMyFitness, MyFitnessPal, and Endomondo. applications. The company was founded by Kevin A. Plank in 1996 and is headquartered in Baltimore, MD.
$UA double bottom$UA with a bulkowski double bottom measured move pattern on the daily, $UA also showing coinciding bullish divergence on both the MCAD and RSI
Growing channel from the bottomEntry price – 8.41 $.
TP1 – 8.66(+2,99%), TP2 – 8.79(+4,45%), TP3 – 8.87(+5,49%).
SL – 8.21(-2,42%).
UAA Bankruptcy or Comeback?Hello,
In a nutshell, this company has taken a beating and now has a poor credit rating and IMO maybe looking or already thinking about bankruptcy.
What happened
Under Armour (NYSE: UA) (NYSE: UAA) opened lower today (May 21st), with both share classes down around 8% in early trading, after the company announced a convertible senior note offering. Both stocks have since recovered and are now in the green as of 12:45 p.m. EDT.
So what
The athletic apparel maker is proposing a $400 million offering for convertible senior notes that will come due in 2024. The paper will be offered to qualified institutional buyers, and those investors will have an option to purchase up to $60 million more in aggregate. The terms, such as conversion rate and interest rate, have not yet been finalized and will be determined by negotiations with investors.
Under Armour will enter into capped call transactions that will mitigate potential dilution from any conversions, and the consumer discretionary company says it plans to use most of the proceeds to pay off the outstanding debt that it currently has under a revolver.
Now what
In response, credit rating agency Moody's also downgraded Under Armour's corporate family rating from Ba2 to Ba3, about three notches into junk territory. Analyst Mike Zuccaro commented, "Widespread temporary store closures and weaker discretionary consumer spending will result in significant incremental pressures on Under Armour's revenue, profitability and cash flow in 2020."
Good Luck
Cheers!
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$UAA Under Armour Trade setup
very significant trend break today on very nice volume.
Indicators reversing bullishly .
15% Short interest can help ignite a reversal rally.
The market has began to rotate out of tech into these beaten down sectors.
Price Action & Psychology - Pattern & MTFAHello !
Key points
Triple bottom pattern
Price rejection
Significant support zone
Hourly chart : On that timeframe, we get a confirmation from the price rejection we see on the daily chart. The stock gapped down, triggered stop-losses and panic selling. Afterwards, we see a wide bullish candlestick (kind of "Tweezer Bottom") that has approximately the same volume.
I see two different ways to play that trade :
"Aggressive" entry : buying around the previous close
"Safer" entry : waiting for a breakout on the hourly chart
Either way, in my opinion the stop-loss should go above the Tweezer Bottom. On a 15-min chart, we see that the price action was pretty straightforward, kind of an instant correction from the morning panic.
Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
Under Armour UNDER performing- Under Armour has fallen 3.3% in premarket trading because it's reported worse than expected quarter losses. Net losses totalled $559.7 million
- It's laid off workers and borrowed new money to try and sure up its balance sheet and lower its expense base.
- Overall its been under performing the S&P 500 and we are sitting at 2011 stock prices. From a trend perspective its been trending down in the pitchfork. Short positions can possibly be initiated at the Median line or the Supply Zone above.
UNDER ARMOUR INC. (UA) Daily ChartDates in the future with the highest probability for price direction reversals
UAA DOUBLE BOTTOMWAITING FOR NECKLINE TO BE BROKEN OUT BY MARUBOZU, THEN THE REVERSAL IS UNSTOPPABLE
UNDER ARMOUR INC. (UA) Daily ChartDates in the future with the highest probability for price direction reversals
Under Armour Earnings Trade
Entry at market
Possible upside target $23.75
Stop loss $20.00 Below POC and daily support.
UAA EarningsI'm bearish on this company but you gotta go with the chart read. Looks like a continuation triangle, will throw in a small bet on calls next week. Earnings Tuesday BMO.
I will kick myself if I'm wrong because I usually flip UAA puts for fun.
UA before EarningsUA likely to correct to 15 or lower post-ER.
– major formation bust since August last year, stock was not able to recover
– MACD bearish
– MAs super bearish (turned off in this chart)
– stock is now below 'Century VWAP' pre-ER (bearish)
– RSI super bearish
This post will be updated continuously when mentionable changes can be observed.
WEEKLY + ADX:
Under Armour inverse H&S at end of wave 2Under Armour seems to be finishing wave 2 and formed an inverse H&S with divergence on RSI. MPO of the pattern is just below $28 level. Break of the neckline and 200SMA would be a buy signal, best if confirmed with high volume.
This could be a great opportunity to enter before the main buyers come in. The count is valid as long as level $16 is not broken to the downside.
Overall the stock seems to be bullish, earnings will be reported on February 11th. Major hedge funds target the stock below $30.
Good Luck!
