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Upgrade Alert for Under Armour (UA)

By Shiri Gupta

Under Armour (NYSE:UA) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $38.28 on volume of 3.1 million shares, below average daily volume of 5.8 million.

Under Armour has overhead space with shares priced $38.28, or 64.1% below the average consensus analyst price target of $106.61. The stock should run into initial resistance at its 50-day moving average (MA) of $67.50 and subsequent resistance at its 200-day MA of $84.11.

In the past 52 weeks, shares of Under Armour have traded between a low of $35.35 and a high of $105.89 and closed yesterday at $38.28, which is 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 4.5% while the 200-day MA has slid 1.1%.

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 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 14.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Under Armour

Ticker(s): UA