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A slow down? After three days of going up, Under Armour is flat today, hovering around $8.86.

01 May 2023

UAA

A mostly flat day so far for the sports equipment company, range-bound between $8.84 and $8.93 and currently at $8.86.

Under Armour is currently trading at $8.86 following the release of ISM Manufacturing PMI (Apr) data from the United States.

Uncertainty around Under Armour is reflected by published market data as United States ISM Manufacturing PMI (Apr) came out at 47.1, while a consensus of analysts was expecting 46.8. United States ISM Manufacturing Prices (Apr) released today at 14:00 UTC with a figure of 53.2, while the previous figure was 49.2. United States ISM Manufacturing Employment (Apr) released today at 14:00 UTC with a figure of 50.2, while the previous figure was 46.9.

Under Armour Inc is approaching key support, around 11 cents away from $8.75. 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. Under Armour made an initial breakout above its 10 day Simple Moving Average at $8.88, a potential indicator of a newly emerging bullish phase. Under Armour's upper Bollinger Band® is at $9.42 and the lower is $8.61.

Despite muted price action in Under Armour, chart analysis indicates it is positioned for a bullish run in the short term.

Meanwhile, mixed performances are seen in other consumer discretionary stocks as Amazon is down to $103.96, losing 1.41%, after ending Friday at $105.45. Booking Holdings gained 1%, currently at $2,713.2. Nike is up 1% to $128.

Moreover, United States JOLTs Job Openings (Mar) is expected tomorrow at 14:00 UTC.

Trending downwards for around a month. The sports equipment company has shed 26.88% over the past three months.

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