Bearish Under Armour declines 32 cents (3.47%)

Friday at a glance: the footwear and apparel maker plunged into the red after losing 3.47%, declining to $8.91.

Under Armour chart analysis: Under Armour Inc could begin to recover as it approaches significant support, now 18 cents away from $8.73. Dipping below could be an indication that further losses are ahead. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to momentum evaluation, the Relative Strength Index indicates Under Armour is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Bollinger Bands® shows an indication of recovery: the lower band is at $8.83, a low enough level to, generally, suggest that Under Armour is trading below its fair value.

With market volatility ebbing, the current technical outlook indicates Under Armour will remain range-bound for the immediate future.

Under Armour was not the only decliner in the consumer discretionary sector; Walt Disney went down to $93.57, losing 2.67% after it closed at $96.14 Friday. Amazon went down 1.65%, closed at $92.25. Lowe's lost 1.2% Friday and closed at $196.66.

Trending downwards for around a month. Having set a significant high of $18.03 11 months ago, the footwear and apparel maker is trading 48.81% lower.