Under Armour Inc (UA) has risen from $34 to a high of around $48 since it bounce off the kumo support back in September.
Currently, it seems like it is going through consolidation with a trading range of $44 to $48; though I see pretty good support at $46 given that the leading kumo is pretty thick.
We can also confirm that the uptrend is taking a pause from the fact that both the Tenkan sen and Kijun sen has flatten.
This consolidation will be a good chance for it to move towards $54 range and subsequently higher.
In my opinion, UA could also be a target of acquisition given its focus and strength in the sports market and its ability to renew relevant rights for its apparels within its niche.
