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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Under Armo-C (NYSE:UA) based on the price action in the company's shares. Yesterday's price range of $18.02 and $18.30 is within the prior day'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. Traders and investors interested in shares of Under Armo-C may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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.

Under Armo-C share prices have moved between a 52-week high of $24.55 and a 52-week low of $15.05 and closed yesterday at 19% above that low price at $17.90 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Under Armo-C has overhead space with shares priced $17.90, or 12.7% below the average consensus analyst price target of $20.50. The stock should find initial resistance at its 50-day moving average (MA) of $18.07 and further resistance at its 200-day MA of $19.26.

SmarTrend is tracking the current trend status for Under Armo-C and will alert subscribers who have UA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle under armo-c

Ticker(s): UA