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After Yesterday's Rally of 3.33% Shares Could Potentially Pullback

By Shiri Gupta

Under Armour (NYSE:UA) traded in a range yesterday that spanned from a low of $17.79 to a high of $18.46. Yesterday, the shares gained 3.3%, which took the trading range above the 3-day high of $18.37 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Under Armour has traded in a range of $17.05 to $105.89 and is now at $18.40, 8% above that low. The 200-day and 50-day moving averages have moved 1.08% lower and 4.49% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Under Armour on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $43.96. Since that call, shares of Under Armour have fallen 59.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Under Armour

Ticker(s): UA