Don't Ignore This Chart!

Under Armour Forms Bearish Candlestick Pattern

 | 



Under Armour (UA) is currently in a long-term uptrend, but the stock stalled over the last three months with a head-and-shoulders pattern taking shape. The right shoulder is under construction with a bearish engulfing marking the high. The September-November lows mark neckline support in the 75-76 area.

131119us
Click this image for a live chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus