The stock is expected to rebound from support to $6.30 next week.
Buy with a stop-loss at $5.90.
The price of UA is predicted to go up -1.87%, based on the high correlation periods with UAA. The similarity of these two price pattern on the periods is 95.99%.
UA
UAA
Controlling shareholder Kevin Plank recently returned as CEO and intends to focus on core men's performance apparel, faster product development, less discounting, and North America.
Under Armour has cut $200 million in average annual costs through past restructurings and continues to seek ways to operate more efficiently.
Under Armour operates in a net cash position and recently authorized a three-year, $500 million share repurchase plan.