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Possible Bearish Inside Day Candle Pattern Detected for Under Armo-C (NYSE:UA)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Under Armo-C (NYSE:UA) based on the price action in the company's shares. Today's price range of $20.28 and $20.28 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Under Armo-C may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Under Armo-C have traded between a low of $15.05 and a high of $23.28 and are now at $20.28, which is 35% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

Potential upside of 1.1% exists for Under Armo-C, based on a current level of $20.28 and analysts' average consensus price target of $20.50. The stock should find initial support at its 50-day moving average (MA) of $19.52 and further support at its 200-day MA of $19.03.

Under Armour, Inc. develops, markets, and distributes branded performance products for men, women, and youth. The Company designs and sells a broad offering of apparel and accessories made of synthetic microfibers.

SmarTrend is monitoring the recent change of momentum in Under Armo-C. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Under Armo-C in search of a potential trend change.

Keywords: bearish inside day candle under armo-c

Ticker(s): UA