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Under Armour

Under Armour…we’re not there yet

This week was a big down week for Under Armour (UAA) dropping $8.43 (29%) to close at $20.70.  On January 31st, UAA reported disappointing earnings and forward guidance did not help.

By the way UAA is the ticker symbol for the Class A stock and replaced the original common ticker. UA is for the Class C stock.

Back on June 1, 2016 I posted a video in which I analyzed UAA’s stock.  In this video I talked about how I believed that UAA had undergone an extended wave 5 in its push to the top in September 2015, and would now have a significant correction.  Here is the weekly chart from that video. Continue reading

semiconductor stocks

Semiconductor Stocks getting hit, but so are lots of Tech Stocks

This week the semiconductor stocks got hit very hard on Thursday. The supposed catalyst was indications that Apple was cutting back on iPhone 7 production.  But many tech stocks are also getting hit.

Some say it is a rotation into sectors like finance, infrastructure and energy. But some of this is also related to global commerce and sourcing. Fears of a trade war with China are not helping stocks like Apple. Continue reading

Has the Energy Sector Hit the Wall?

Today we look at the Energy Select Sector SPDR ETF (XLE) and ask whether the energy sector has hit the wall.

The XLE is one of the most active industry sector ETFs with a 50 day moving average of 95 million shares.  It tracks a market-cap weighted index of US energy companies in the S&P 500.  

Energy Sector

In the big decline from the peak in June 2014 to the low in January 2016, XLE smashed thru a major uptrend line from the 2002 low, in July 2015. It pulled back to it last November but then quickly fell away.

It has had a big move up off the January low, but running into significant resistance at 72.0. It has not broken down yet.  Watch for consecutive closes below the 10 week ema and then for the 10 ema to cross below the 21 sma.  Look at September 2014 and June 2015 for good examples.

Energy Sector

Weekly April 2011 – Sept 2016

The top three holdings in the Energy Sector ETF are Exxon Mobil (XOM) at 18.65%, Chevron (CVX) at 14.81% and Schlumberger (SLB) at 8.83%. I’ll start with Exxon Mobil. Continue reading

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