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Upgrade Alert for Under Armour (UA)

By Shiri Gupta

Under Armour (NYSE:UA) was upgraded from Neutral to Buy at Buckingham today. The stock closed yesterday at $38.11 on volume of 7.0 million shares, above average daily volume of 5.8 million.

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 179.7% exists for Under Armour, based on a current level of $38.11 and analysts' average consensus price target of $106.61. Under Armour shares should first meet resistance at the 50-day moving average (MA) of $67.50 and find additional resistance at the 200-day MA of $84.11.

Under Armour share prices have moved between a 52-week high of $105.89 and a 52-week low of $35.35 and closed yesterday at 8% above that low price at $38.11 per share. Over the last five market days, 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 15.3%. 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