$UAA up 5.93% to $6.61 can bulls push past $6.70?
$Under Armour Class A(UAA)$
Under Armour, Inc. (UAA) Jumps +5.93%: Momentum Builds as Bulls Eye $6.70 Breakout
Latest Close Data
UAA surged to close at $6.61 on Feb 4, up +5.93% from the previous close of $6.24. The stock is now 23.6% below its 52-week high of $8.65.
Core Market Drivers
The strong daily move appears driven by a broader market rebound in consumer discretionary stocks. There is no major company-specific news in the feed, suggesting technical buying and a potential short squeeze as the price breaks above recent resistance.
Technical Analysis
The rally was supported by high volume (13.44M shares, Volume Ratio 1.25). Key indicators show strengthening bullish momentum:
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the 6-day RSI has spiked to 81.08, entering overbought territory, while the 12-day RSI sits at 75.44.
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The MACD histogram improved to -0.0126, showing decelerating bearish momentum and a potential for a bullish crossover soon.
Key Price Levels
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Immediate Pivot: $6.61 (Today's Close)
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Primary Support: $6.33 (Today's Low / Previous Resistance)
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Strong Resistance: $6.70-$6.75 (Today's High & Beyond)
Valuation Perspective
The stock trades at a P/S ratio of 0.56, which is generally considered low and may offer value relative to peers.
However, its Forward P/E of 114.92 is significantly above its historical average of 35.27, indicating high growth expectations are priced in.
Analyst Targets
16 analysts have an average price target of $6.19, with a high of $10.05. The consensus rating leans heavily towards Hold, with 21 analysts recommending Hold, 2 Buy, 1 Strong Buy, and 2 Underperform.
Weekly Outlook
The breakout above $6.33 is constructive. Expect a test of the $6.70 resistance next.
A sustained break above could target the $7.00-$7.20 zone. Failure to hold above $6.33 may lead to a pullback towards the $6.00 support level.
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