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