SSS - UA Short-Sale Set-Up: Chart Analysis

Published : June 16 2011 at 14:41 ET

Under Armour, Inc. (UA) may be rolling over the peak of a third right shoulder in a Pinhead & Shoulders formation. The stop on this is the 50-dma at 68.60, with an initial downside price objective at the neckline area, the highlighted area around the 61-63 price zone. At that point it will have to be seen whether the stock "breaks out" to the downside and through support at the neckline, confirming the top.

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