I’ve talked about why I like Under Armour fundamentally. That’s great and all, but it’s useless to traders and investors until you get some technical reasons to buy.
Luckily, we finally have some positive technical developments to work with.
There are RSI divergences popping up if this thing makes a new closing low on the daily or weekly chart. The Bollinger bands have completely flattened out as well.
We don’t have any guarantees that a new position will work, but we have an area to work with. Let’s see how the week closes, but at this point we can start looking long with limited risk.
Trade ’em well!