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UA is off 5% in electronic trading, after closing at $75.00 on Friday. Morgan Stanley cut its rating on Under Armour Inc to “underweight,” while lowering its price target to $62 from $103. D.A. Davidson also cuts its price target, to $105 from $123. The shares have been slipping for months, bringing their 14-day RSI to 27 — in oversold territory. Meanwhile, short interest on UA currently accounts for 12.8% of the stock’s available float , or nearly eight days’ of trading, at typical volumes.
This hurts after a complete beatdown on Friday. I’m long the name but refuse to sell it here down another quick 7%. I’d rather be a buyer under $70 than a seller.
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this one puzzles me a bit…is it a case where the growth story is so obvious that the big boys want this to themselves so they shake out every last retail trader in the name?
I’ve been waiting for a dip in this name, here it is. Unfortunately long from higher.
With new money, seems like the spot to start legging in.
Went to outlet shopping mall during holidays and Nike Factory store was packed while the UA store wasn’t busy at all. Maybe 3-4x the people at Nike.