UAA plummets -3.56% closing $0.70 lower
Under Armour Class A (UAA) Technical Analysis Report for Sep 14, 2018
Moving lower for the 3rd day in a row, UAA ended the week -3.56% lower at 18.96 after tanking $0.70 (-3.56%) today. This is the biggest single day loss in over a week. Today's closing price of 18.96 marks the lowest close since May 15th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 19.57, the stock confirms its breakout through the previous session's low having traded $0.89 below it intraday.
Friday's trading range was $1.05 (5.34%), that's far above last trading month's daily average range of $0.64. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.
After trading as low as 18.68 during the day, the market bounced off the key support level at 18.90. The failure to close below the support might increase that levels importance as support going forward.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Under Armour Class A
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
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