Wednesday, December 23, 2015

UA Chart - 12/23/15

Under Armour’s stock is on a well-defined downward trend over the past few months (black lines), and is currently finding support at a key level (blue line) - $80. If this support breaks, the stock could recede rapidly towards $70. Since this seems to be a fairly strong support level, a long sided trade could be initiated above $80 with a stop loss at $79.50 or so.