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UAA Shows Signs of Bottoming?
My near-term work on Under Armour, Inc. (UAA) shows the Feb-Apr bottoming period, within which we find the March accumulation period that is relatively mature now, and is beginning to put upward pressure on key resistance at 20.60/80.
If 20.80 is taken out, then UAA will have confirmed a 4-5 week bottom, and will be heading for a challenge of its 2017 resistance line, now in the vicinity of 21.80, with additional multi-week resistance extending up to 22.50.
Let's also note that the 20-DMA is beginning to curl up from the 19.58 area, putting a bit of support under the climbing near-term price action.
