Home / Forex & Currency Exchange News / Trading Roundup: Under Armour Sales Send Shares Soaring

Trading Roundup: Under Armour Sales Send Shares Soaring

By Admiral Markets

Source: Pexels

Health and fitness are trending globally, and we don’t expect this trend to go anywhere in 2018. Under Armour – the American manufacturer of sports and casual apparel, footwear, and gear – saw its share price rise sky-high on Tuesday morning, following the release of their Q4 sales report.

The company managed to sell much more than initially expected during the holiday period in December 2017. The total revenue of Under Armour climbed 5% to reach $1.37 billion, whereas analysts were expecting $1.31 billion, according to a Thomson Reuters survey1.

The company has been closely focussed on international sales, which also jumped 47%.

 

Under Armour Share Analysis

Under Armour (#UAA) has been enjoying a surge of buyers within the S&P 500 index. The index price is trapped within a channel that has a negative slope (bearish). However, the price has recently skyrocketed from the bottom making Adam & Adam pattern possibly targeting 2807-2881. There, we could see now-moment sellers who could reject the price within the scope of the channel targeting a lower POC zone again. POC stands for Point of Confluence, the zone where we should expect the price to react. However, a breakout above the Monthly H3 (M H3) 2881.07 should target 2936.58 and 3038.73.

Source: SP500 H8 chart, Admiral Markets MT5 with MT5SE add-on, Dec 2017 – Feb 2018

 

Start Trading SP500 & Under Armour CFDs with Admiral Markets!

Get access to the world’s financial markets and trade the most popular instruments on some of the most competitive terms around.

Why not consider trading the SP500 – the stock market index based on the market capitalisations of 500 of the largest companies in the US, with common stock listed on both the New York Stock Exchange or NASDAQ.

Not sure which strategy or plan to use for trading whichever of our CFDs you pick? Get some ideas from our Education section and try them out in a risk-free environment, with virtual funds on a Demo Account, before going Live.

Remember, whatever you do, be sure to manage your risks wisely and trade safe!

Olga & Nenad

Free Forex demo account

References

  1. CNBC

Article by Admiral Markets

Source: Trading Roundup: Under Armour Sales Send Shares Soaring


Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

Chinese Yuan shows resilience, despite emerging markets pressured by trade concerns

Article by ForexTime Conflicting indications over the status of trade talks between the United States and China has contributed towards a subdued opening of the week for financial markets. Reports that President Donald Trump will most likely impose tariffs on $200 billion worth of Chinese goods have collided with other reports that Beijing was considering […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php