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Consumer Goods

Under Armour, Inc ($UA) : Still bullish? Next entry.

 

I have some AUGUST CALLS that I have bought for UA prior to its earnings. Along the way, I took some profits.

Even then, yesterday’s UA dramatic drop despite its good earnings have me thinking whether my bullish view on UA will hold.

From the chart, definitely that long bearish candle is a sell.

1. At current level, it is sitting right on the Kijun sen support level around. High chance, we will see a little bit more selling over the next few days. There is no sign of a bearish cross (Tenkan sen cuts Kijun sen) at this point.

2. The leading kumo is still up and have not twist to show a change in trend.I will look for an entry nearer to $70 (where the kumo support is).  The entry will most likely be a combination of CALLS and Vertical Spreads (subject to change depending on chart).

I believe, UA is doing everything right at this point in time and it should have no problem hitting $90. I am looking at a September timeframe for UA to hit $90.

Categories
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.

 

 

 

Categories
Consumer Goods

Under Armour Inc ($UA) : Bullish. Breaking kumo?

Under Armour (UA) has dropped from the peak of $80 to a low of $62 over the last one month.

It has since rallied over the last one week to current price of about $70.

Right now, we can see from the Ichimoku chart that it may break the kumo resistnace at around 70.87 soon.

A weak bullish signal is already sighted from a Tenkan sen – Kijun sen cross.

Target price : $80 by September

Note:

Price level still within kumo. Resistance ahead.