• Return to Headlines

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

By Amy Schwartz

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 $19.09 and $19.30 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.

In the past 52 weeks, shares of Under Armo-C have traded between a low of $13.62 and a high of $23.28 and closed yesterday at $19.28, which is 42% 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 advanced 1.2%.

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.

Potential upside of 6.3% exists for Under Armo-C, based on a current level of $19.28 and analysts' average consensus price target of $20.50. Under Armo-C shares should encounter resistance at the 200-day moving average (MA) of $19.29 and support at the 50-day MA of $19.15.

SmarTrend recommended that subscribers consider buying shares of Under Armo-C on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.88. Since that recommendation, shares of Under Armo-C have risen 6.3%. We continue to monitor UA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle under armo-c

Ticker(s): UA