UAA plummets -3.56% closing $0.70 lower

Under Armour Class A (UAA) Technical Analysis Report for Sep 14, 2018

Highlights

UAA tanks -3.56% closing $0.70 lower
UAA dominated by bears dragging the market lower throughout the day
UAA finds buyers at key support level
UAA closes lower for the 3rd day in a row
UAA breaks below previous session low

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

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.

Daily chart for UAA

Volatility

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.

Support/Resistance

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.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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Latest Report:

UAA finds buyers again around 18.74

Sep 17, 2018
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