Stay in the Game on Under Armour Stock

When we analyzed Under Armour, Inc. (UAA)  at the beginning of May, we said, "Traders who bought UAA in late February or March at $16 or better should continue holding those positions. Additional longs could be purchased above $19. Risk below $15 now and $30 is our longer-term price target after $25." Traders following this advice should have added to their long position. Let's check the charts and see if we can raise the sell stops or any other changes to our bullish strategy.

In this daily bar chart of UAA, below, we can see that the indicators have improved this month. Prices are still above the rising 50-day moving average line. The 200-day line is now flat. The daily On-Balance-Volume (OBV) line has continued to rise telling us that buyers of UAA have been more aggressive this month. The daily Moving Average Convergence Divergence (MACD) oscillator continues to move up to confirm this advance....129 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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