Under Armour (UA) has been rallying yesterday and this morning on an upgrade from Stern Agee, and the stock has moved right up to its 50-dma in what could be a right shoulder within a head and shoulders type of set-up with a narrow head we refer to as a "pin-head." Depending on what the market does, the stock is setting up as a potential short-sale here using the high of the day at 69.70, maybe a couple of percent more, as an upside stop. For purposes of fair disclosure we have been putting out a short position into this rally.
SSS - Under Armour, Inc. (UA) Short-Sale at 50-dma
|Published:||14 Jun 2011 15:28 ET|
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2020 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.