The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Under Armour (UA) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :The price is below the lower Bollinger BandRelative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversoldMACD bullish divergencePrice has crossed below the 50 Day Moving Average
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It was the negative week for the Under Armour (UA). During the week, the UA dropped -1.09 points, or -13.56%, and closed at 6.95 on Friday, March 15, 2024. Weekly volume was 86% above average.

Long-term trend: [See UA long-term trend chart]
A long-term downtrend had started on November 4, 2021 at 23.00 and reached 5.74 on September 30, 2022. UA lost 17.26 points, or 75.04%, in 47 weeks. The price is now at the 7.01% retracement level.

Medium-term trend: [See UA medium-term trend chart]
A medium-term uptrend had started on September 27, 2023 at 5.86 and reached 8.99 on December 20, 2023. UA gained -3.13 points, or -53.41%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (7.49) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. UA may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See UA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 13, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See UA short-term trend chart]
A short-term downtrend had started on February 29, 2024 at 8.68 and reached 6.85 on March 14, 2024. UA lost 1.83 points, or 21.08%, in 14 days. The price is now at the 5.46% retracement level.

Daily Technical Indicators: [See UA daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.81
Oversold
Williams' Percentage Range (W%R) 93.40
Strong Oversold
Lane's Stochastic (%D-Slow) 9.47
Strong Oversold
Greed/Fear Indicator (GFI) 11.94
Oversold
Moving Average Converg./Diverg. (MACD) 0.04 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.96
Williams' Percentage Range (W%R) 71.40
Lane's Stochastic (%D-Slow) 58.53
Greed/Fear Indicator (GFI) 42.78
Moving Average Converg./Diverg. (MACD) 0.17
Trading Signals
Description Value Chart
Upper Bollinger Band 8.73
20 Day Moving Average 8.04
Weekly Stochastic Crossing 7.96
Parabolic System 7.95
50 Day Moving Average 7.77
Quarterly Trendline Support 7.49
Lower Bollinger Band 6.99
Daily Stochastic Crossing 6.99
Price 6.95
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Apparel, Accessories & Luxury Goods 30
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 8.68
High Date 02/29/2024
Low 6.85
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8.68
High Date 02/29/2024
Low 6.85
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6.92
Low Date 01/17/2024
High 8.68
High Date 02/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 8.61
Support 7.49
Low 5.86
Low Date 09/27/2023
High 8.99
High Date 12/20/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 23.00
High Date 11/04/2021
Low 5.74
Low Date 09/30/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.