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The Chartman

Is Under Armour's Stock a Home Run?

By The ChartmanFOXBusiness

1. Bulls take charge

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Last week, I noted a bullish breakout and thought the market would continue upwards. So, let’s check that off the list. I am skeptical the rally is sustained though, so we’ll mark that as “TBD” and check back later!

2. Why I'm wary

Why am I wary of this rally? When almost EVERY stock has moved above its 40 day moving average, that’s almost always a sign of a top.

3. Watch Under Armour

Under Armour (NYSE:UA) has all the makings of a stock to buy. But, be patient: it still needs to take out resistance for me to go all in.

Back next week to celebrate spring, warm weather and – hopefully – the last of snow for most of you.

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