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Consumer Goods

Under Armour Inc ($UA) : Cup and Handle. Bullish.

Under Armour ($UA) continues its bullish move up since it breakout from the kumo resistance in end June.

Yesterday, together with the overall market movement, UA hit a new high with a very nice cup and handle forming.

So far, UA has managed to hold its price above the $76 range.

On the Ichimoku chart, all indicators are aligned for a bullish move:

1. Tenkan sen and Kijun sen are pointing upwards

2. Price is trading above the kumo and is going up

3. The Chikou Span has pierced through the recent high and there is no known resistance ahead

4. Leading kumo is showing upwards trend as well.

There is a very high chance that UA will hit $100 by year end since the year end retail sales are not in yet.