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June 30, 2023
Under Armour was steady yesterday maintaining a $7.08 – $7.24 range before closing at $7.14.
- United States Core PCE Price Index (MoM) (May) is next today at 12:30 UTC.
- While flat so far today, Under Armour is on a 9 day bearish trend during which it lost 70 cents of its value.
Earlier data releases related to Under Armour – United States Pending Home Sales fell short of the -0.5% projections, with new data of -2.7%. Highly important GDP data from United States beat analyst expectations of 1.4 with a reading of two.
Technical analysis of Under Armour before macro data is released:
Under Armour Inc made an initial breakout above its 5 day Simple Moving Average at $7.22, a potential indicator of a newly emerging bullish phase. Under Armour's upper Bollinger Band® is at $7.97 and the lower is $7. Under Armour is approaching key support, around 7 cents away from $7.07. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Overall, looking at the technical analysis landscape, it seems Under Armour might be pointing upward in the short term.
Coming up for Under Armour — United States Core PCE Price Index (MoM) (May) is expected today at 12:30 UTC. United States Core PCE Price Index (YoY) (May) is scheduled for today at 12:30 UTC.
As the markets get ready for more data to be released — McDonald's was up 0.94%. Alibaba went down to $83.55, losing 1.23% after it closed at $84.59 yesterday. Amazon lost 0.88% yesterday and closed at $127.9.
The footwear and apparel maker has fallen back around 44.21% over the past 4 months, from a notable high of $12.78.
