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May 30, 2023
Pronounced bullish sentiment in the market helped the footwear and apparel maker to make a notable 0.85% gain Friday, rising 6 cents and ultimately closing at $7.11.
- United States Consumer Confidence data will be released today at 14:00 UTC, with an expected decline to 99.
- Friday's gains stand in contrast to Under Armour's slide (lasting 7 days) in which it lost 57 cents.
Technical analysis of Under Armour before macro data is released:
Chart analysis suggests Under Armour Inc could be slowing down soon; it is getting close to the resistance line and is now at $7.19, only 8 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Friday's price action generated a Japanese candlestick pattern showing 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
Coming up for Under Armour — United States Consumer Confidence projected to come out at 99 — worse than previous data of 101.3; data will be released today at 14:00 UTC. United States JOLTs Job Openings (Apr) scheduled to come out tomorrow at 14:00 UTC.
As the markets get ready for more data to be released — Amazon was up 4.44%. Tesla was up 4.72%. Lowe's added 2.73% to its value, and traded at $206.52.
Trending downwards for around a month. The footwear and apparel maker has fallen back around 44.84% over the past 3 months, from a notable high of $12.78.
