Bearish DailyPlay for Tuesday May 24th, 2016 – Under Armour (UA)
The bearish DailyPlay we chose for Tuesday May 24th is Under Armour (UA). UA is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 2.55% move lower and its 1m trend turned bearish and 6m trend turned neutral on 5/13.
Under Armour’s 1m and 6m trends turned bearish on 5/4 and recently bounced lower off its $38 resistance level on high volume. With a technical score of 2 (out of 10), UA looks positioned to continue this bearish trend lower.