$UAA - Can we see a breakout?NYSE:UAA Well, it came down to $6.50, and as promised, I bought more. It has been creeping up during this market sell-off, and right now it is up against the trendline resistance.
Can we see a breakout?
UAC trade ideas
"Multiresisupport"The current levelhas been serving as support and resistance multiple times beginning May 2023.
As we had our peak in November and lost over 40 % since then we may now build a bottom here and start recovering.
However it is not excluded yet that we may test the quadrupel bottom which we have tested since September 2022 again. In this case we may be stopped out and have to re-enter a bit later at this lower level again.
UA still an amazing pick for 2024UA completed this bullish harmonic over 8 months ago. It hit our first tp of the trade set up before falling below the key level where we were stopped out.
We do not have an open leveraged position on this asset but we are accumulating it at these levels as it has turned bullish again.
The spring back above the key level and the backtest that has occurred indicate that it is ready to go. Above 6.5 it is bullish, we are creating bullish divergence also.
Under Armour | UA | Long at $6.74Under Armour $NYSE:UA. Price may break my historical simple moving average area/lines and dip into the low $6s, but the convergence of price with these lines often means a future price increase. Fundamentally, the stock continues to surprise with earnings beat after earnings beat. While economic headwinds are likely ahead in the retail market, global exposure may ease the likely troubles. Starter position entered at $6.74.
Targets
$7.50
$8.00
$UAA - I like itNYSE:UAA Under Armour looks like it is bottoming. The stock is trading inside a descending wedge and is currently sitting above the POC.
I believe it is close to making a move. If the wedge plays out, we are looking at the $11.50 area as the final target.
As always, I share my opinions and trades. I'm not suggesting that anyone follow my trades. You do you.
$UAA Under Armour LONGUnder Armour looks nice. Might get a retest soon and then it's a perfect entry.
Good time to start buying in now.
Have no idea what happening inside of the company if there is any bad new of course you shouldn't long.
If I wanted to rotate my gains from the Stocks that already pumped this would be it.
Time to put the Armour on and fill the gap!Under Armour has recently completed filling the bullish gap, and now the stock is positioned to close the bearish gap at the $13.00 level. From a technical standpoint, the stock has shown resilience and is poised to find strong support at $7.07, which coincides with previous levels of interest, including the COVID-era lows. This region has historically acted as a solid base for recovery, making it a prime entry point for investors.
In addition to this technical setup, Under Armour presents a compelling long-term growth opportunity. The company has been making strategic moves to optimize its operations and focus on higher-margin products, which could fuel margin expansion and profitability. The global activewear market continues to grow, and Under Armour is well-positioned to capture market share, particularly as it strengthens its digital presence and focuses on direct-to-consumer channels. As the company emerges stronger from post-pandemic disruptions, its current valuation provides an attractive entry for both short-term traders targeting the $13.00 level and long-term investors seeking value.
With strong support near the $7.00 range and a clear technical path to $13.00, this makes Under Armour an enticing buy for those seeking both momentum and value.
NYSE:UA
Long on UAA Under Armor here at 6.80Hey guys been following UAA for a little while and I think the current stock is oversold.
The current hype around the company going belly up is a bit over blown, mismanaged yes, going under no.
This is literally a trade based on do the exact opposite as the news.
Everyone says its dying therefore the bottom is in
Target 10.50
UAA Looking PrecariousUAA at major point of support, resistance. This goes all the way back to 2006, and has seen quite a bit of action over the years.
At this point in time UAA is retesting this level, as it has done several times since Sep. '22.
This doesn't look like a strong chart to me, and if UAA loses this level it could enter free-fall.
A bounce is likely, however, given the historical significance of this level, so scalpers can weigh the risks.
Under Armour Reports 38% Decrease in Net Income for Fiscal 2024Under Armour (NYSE: NYSE:UAA ), an athletic performance apparel brand, has reported a 38% decrease in net income for fiscal 2024 (FY 2024) from $374.45m in fiscal 2023 (FY 2023). The company's adjusted net income stood at $245m, and its diluted earnings per share also declined to $0.52, compared to $0.81 in fiscal 2023. For the year ending 31 March, Under Armour's ( NYSE:UAA ) revenue reached $5.7bn, marking a 3.4% decrease from $5.9bn a year earlier.
Revenue in North America dropped by 8.3% to $3.5bn while international revenue rose by 8% to $2.2bn over the fiscal. The retailer's direct-to-consumer segment showed resilience, with a 3% increase in revenue to $2.3bn. This growth was attributed to a 5% rise in owned and operated store revenue and a 1% uptick in e-commerce revenue, which now represents 41% of the direct-to-consumer business.
Under Armour's ( NYSE:UAA ) gross profit remained relatively stable at $2.63bn in FY 2024, compared to $2.64bn in the previous year. The company's gross margin improved by 130 basis points to 46.1%, largely due to supply chain efficiencies that reduced freight and product costs. Under Armour's ( NYSE:UAA ) board of directors has approved a restructuring plan to boost its financial and operational efficiencies, expected to cost the company between $70m and $90m.
Under Armour ( NYSE:UAA ) president and CEO Kevin Plank said that despite a challenging retail environment in fiscal 2024, the company demonstrated disciplined expense control and delivered results that were aligned with its previous outlook. He also maintained a strong balance sheet, closing the year with a solid cash position and healthy inventory levels. Looking ahead to fiscal 2025, Under Armour ( NYSE:UAA ) anticipates operating income to be between $50m and $70m, with diluted earnings per share expected to range from $0.02 to $0.05.
The past eight years for Under Armour ( NYSE:UAA ) have been a struggle that doesn't appear to be abating. The company announced a restructuring of its business as its North America sales in its most recent quarter tumbled 10%. Looking ahead, the company cast a dour forecast for its current fiscal year, expecting sales to drop 15% to 17%. Layoffs will be part of the effort to right the ship, but executives did not specify how many employees will lose their jobs.
Under Armour ( NYSE:UAA ) also announced a $500 million share buyback, a move to reward shareholders. Plank told analysts during the earnings call on Thursday that he will shepherd a reset of the business that centers on selling fewer but more innovative products to meet the needs of athletes, significantly accelerating product development, refocusing on its men's apparel category, and reducing discounts of its products.
UAA Under Armour Options Ahead of EarningsIf you haven't bought UAA before the previous earnings:
Then analyzing the options chain and the chart patterns of UAA Under Armour prior to the earnings report this week,
I would consider purchasing the 6.50usd strike price Puts with
an expiration date of 2024-5-17,
for a premium of approximately $0.27.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
COmpelling setup in UAAI wouldnt throw my life savings in this, but a small bet could pay out big, with a well defined risk setting a stoploss below the recent swing low.
RSI trending up MACD trending up and losing sell momentum.
Adam and eve pattern forming
Giant BAT harmonic pattern completed, with a type 2 return into (Accumulation?)
Under Armour Possible Bear FlagA 40% drop in price seems unrealistic, however if this structure is indeed a bear flag (blue), then we could see a new low for the athletic performance apparel company headquartered in Baltimore, Maryland. That low, around the $3.40 range would form a trend line in confluence with previous lows in 2017 and 2020.
