Under Armour dropped by 1.52% and closed the session at $9.05

A quick look at yesterday: the footwear and apparel maker dropped 1.52% early on and traded close to the $9.05 level.

United States Building Permits (Mar) is next today at 12:30 UTC.

While price action maintains a negative bias, United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.

Concerning technical analysis and more specifically, trend indicators, Under Armour Inc made an initial break below its 21 day Simple Moving Average at $9.04, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Bollinger Bands® shows an indication of recovery: the lower band is at $8.71, a low enough level to, generally, suggest that Under Armour is trading below its fair value. A study of Under Armour's chart reveals various key levels to watch: Under Armour could begin to recover as it approaches significant support, now 14 cents away from $8.91. Dipping below could be an indication that further losses are ahead.

All in all, the technical analysis suggests Under Armour has no clear-cut direction.

On the other hand, positive performances could be seen by looking at other consumer discretionary stocks as Toyota was up 1.32%. Alibaba traded at $96.42 after closing yesterday's trading day at $94.55 (up 1.98%). Lowe's traded at $205 after closing yesterday's trading day at $202.18 (up 1.39%).

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000.

Furthermore, United States Building Permits (Mar) scheduled to come out today at 12:30 UTC.

The stock has been trending positively for about a month. The footwear and apparel maker is now trading 23.73% below its 3-month high of $16.72.