The Traderszone Network

Published in TZ Latest News 21 March, 2016 by The TZ Newswire Staff

Under Armour Traces out Bullish Continuation Pattern

UA is attracting buying interest as March madness moves to the sweet sixteen. Note that UA sponsored 10 teams at the start of the tournament, including Utah and Notre Dame. On the price chart, the stock has a bullish cup-with-handle pattern taking shape. This is a continuation pattern and a breakout would signal a continuation of the late January surge.  Typically, the height of the pattern is added to the breakout for an upside target. The height measures around 15 (85 – 70 = 15) and the upside target would be around 100. Take upside targets with a bucket of salt. :<)

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