Under Armour has been consolidating above key support since its powerful post earnings gain(https://www.zacks.com/stock/news/1260538/under-armour-uaa-tops-q4-earnings-and-revenue-estimates?cid=CS-MKTWTCH-HL-tale_of_the_tape|yseop_template_4-1260538&mod=mw_quote_news)/+8.3%/ back on Feb, 10. This bull flag is giving way today setting shares up well for a move into new 2021 high territory.
UAA has now extended its rally off the 50D moving average, which held the Jan/Feb lows, to 32%: https://twitter.com/GarySMorrow/status/1357786172194394113?s=20.
We highlighted UAA back in May as it retested the March/April lows: https://twitter.com/GarySMorrow/status/1263186145199788032?s=20. The stock has gained over 185% since the May 20 close.
We regard UAA as a low risk buy at current levels. A close back below last week’s low($21.00) would indicate more consolidation is needed before new 2021 highs can be reached.
We are long UAA in some managed accounts.