After Yesterday's Rally of 4.22% Shares Could Potentially Pullback
Under Armour (NYSE:UA) traded in a range yesterday that spanned from a low of $40.56 to a high of $42.02. Yesterday, the shares gained 4.2%, which took the trading range above the 3-day high of $40.84 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Under Armour share prices have been bracketed by a low of $35.35 and a high of $105.89 and are now at $41.86, 18% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 4.5%.
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 8.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Under Armour