Ua

[Lucavia123]

Under Armour had a great quarter. It might break into new all time highs. I am thinking of getting some.

Any thoughts?

[skiracer]

Under Armour had a great quarter. It might break into new all time highs. I am thinking of getting some.

Any thoughts?

as I state on the chart I usually don't buy them at this high a price but UA does look ready for a move up on it's monthly. I do love these cup base and handle formations. this is much later in it's development than I like to make an entry. I try to find them much earlier in their development like when they are just finishing their bottom and beginning to make the move up forming the right side of their cup. That's a nice ride and in this case from around 20/25 range would have provided a real nice play.



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[Deaddog]

I’m not so sure I like that chart. I see the breakout but with that kind of volume I’d like to see it close closer to the top of the range.

Today they announced earnings; it traded up to $83.47 on huge volume. But it came down to close at 80.15.

The volume suggests institutional buying and selling. Could it be the smart money vs. dumb money? I’m not sure which side is which. One side is anxious to get out because they sold the stock cheaper and cheaper as the day went on.(look at the 5 minute chart; lower highs) Each time the stock rallied from a pull back it peaked a little lower. .

Taking the efficient market theory into consideration; “every one has the same information therefore the stock is fairly priced”; you can explain why the stock went up today. The question is why will it go up tomorrow. .

It has a PE of 54: rev growth of 42%: Outlook is for 38-42 rev growth%.
The next time we get to see earnings is at year end.

I say sell the news. But then I’m wrong at least 40% of the time!!!

[skiracer]

I’m not so sure I like that chart. I see the breakout but with that kind of volume I’d like to see it close closer to the top of the range.

Today they announced earnings; it traded up to $83.47 on huge volume. But it came down to close at 80.15.

The volume suggests institutional buying and selling. Could it be the smart money vs. dumb money? I’m not sure which side is which. One side is anxious to get out because they sold the stock cheaper and cheaper as the day went on.(look at the 5 minute chart; lower highs) Each time the stock rallied from a pull back it peaked a little lower. .

Taking the efficient market theory into consideration; “every one has the same information therefore the stock is fairly priced”; you can explain why the stock went up today. The question is why will it go up tomorrow. .

It has a PE of 54: rev growth of 42%: Outlook is for 38-42 rev growth%.
The next time we get to see earnings is at year end.

I say sell the news. But then I’m wrong at least 40% of the time!!!

the difference being that you are looking at it's daily chart and I am looking at it's monthly. The monthly clearly shows a cup base and handle while the daily is just showing a mish mash of trading over the past 2/3 months.
First of all I would never trade off of what I see on the daily chart. I'm not saying that it isn't worthwhile looking at but not substantial enough for me to make a real determination of the stocks trend or any chart pattern. I don't know anyone that is making decisions on technical trading that is doing it from the daily charts. I could care less about it's fundamentals or it's PE. This chart pattern's probability of moving farther up from this point is much higher than it turning down. We'll have to wait and see what tomorrow brings.
To be honest I'm probably wrong on 6 or 7 out of 10 trades but I stop every wrong one at 7% or less and I let those other 3 run out to maximize the effort and the opportunity. I'm not trading as much as I would like to be or have in the past because of the current volitaility in the markets and the manipulation that I feel is going on nowadays but when I do make a trade it is based on specific chart patterns that are tried and true and can be counted on to perform as expected according to the percentages of that pattern based on thousands of examples over years of scrutiny.
I can't remember the last losing year I had but if I were only wrong 40 percent of the time as you claim to be then I would be alot richer than I am now. One thing for sure though you will last alot longer if you base your decisions on the weekly or monthly charts if you are going to make your trades on the technical aspects of specific chart patterns like we are talking about. Aside from that there are several other aspects including risk vs reward that come into play in my determinations which are just as important or moreso than the patterns themselves. good luck with all of it.

[skiracer]

I get several reports everyday from BarChart and one of them is the "Chart of the Day. Today's chart of the day was by coincidence UA. I was surprised that they used the daily chart for their analysis but their analysis was high on UA. You can see what their take on UA is at this link:
http://www.barchart.com/headlines/story.php?id=1866503