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June 25, 2023
A quick look at Friday: the footwear and apparel maker hovered around the $7.14 level after closing Thursday at $7.35 and shedding 2.86%, as it reached reached Friday's session close.
The MACD index is indicating that momentum is shifting from bullish to bearish following a negative crossover. When the MACD falls below the signal line, it is typically considered to be a bearish development favoring short positions. In contrast, Bollinger Bands® shows an indication of recovery: the lower band is at $7.03, a low enough level to, generally, suggest that Under Armour is trading below its fair value. Although Under Armour is pointing down today (was as low as $6.97), it's climbing away from the $6.89 support line and is now 25 cents above it.
In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for Under Armour.
Under Armour was not the only decliner in the consumer discretionary sector; Toyota closed at $153.38 (down 2.37%). Starbucks dips 2.49% Friday to close at $100.85. McDonald's went down to $289.91, losing 1.16% after it closed at $293.3 Friday.
The sports equipment company has fallen back around 42.49% over the past 4 months, from a notable high of $12.78.
