A lot of the clothing retailers have been out of favor for a while. Recently, some significant moves have taken place in retailers. ANF, TPR, NKE have all pushed up in the last six months. Under Armour (UAA) has been a little slow to launch but it is close to breaking out to new 6-month highs. You can see the moving averages are above to make a positive cross.
The $17.50 level looks important on the weekly chart above. The SCTR is starting to kick up which is usually a good indication. One concern on the weekly chart is the PPO is still below zero.
On the daily, the 200 day moving average is hugging the price action. A push here looks like a real possibility to start the breakout. The MACD is just pushing above zero.
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Greg Schnell, CMT, MFTA