Some Viagra for the Bears

If you are an Under Armor stockholder, this is available without prescription.

1.       Broken rising uptrend line

2.       Negative Divergence

3.       Price below a downward sloping 200 day moving average

4.       Price teetering on Head and Shoulders neckline

5.       Lower highs and lower lows

best bay area retirement planning independent investment advisor UA 10-26-16

After an impressive 5-year run of more than 500% Under Armor is on the ropes.  A break of the current support and hold could be all the UA bears need as the downside target for this pattern is way down at the (GULP!) $12 level, some 60% lower.

Before I get more hate mail, I need to reiterate I am only reporting what the charts are saying. Nothing more, nothing less. This is NOT a prediction or a guarantee. In any case, the pattern has yet to trigger and until it does it’s just a plot of UA price over 5 years.