UAA has been in long term down trend.
Now I'm looking at the possibility of reversal breakout.
- weekly chart touching the upper line of descending channel.
- daily chart is showing a gap-up with strong volume.
CAUTIONS
- UAA's down trend has been solid.
- UAA's fundamental is still disappointing in terms of growth rate of revenue, eps.
- However, short term chart shows institutional demands.
- check if breakout of upper channel line occur with strong institutional buying.
Now I'm looking at the possibility of reversal breakout.
- weekly chart touching the upper line of descending channel.
- daily chart is showing a gap-up with strong volume.
CAUTIONS
- UAA's down trend has been solid.
- UAA's fundamental is still disappointing in terms of growth rate of revenue, eps.
- However, short term chart shows institutional demands.
- check if breakout of upper channel line occur with strong institutional buying.
Trading ditutup: stop tercapai:
Downtrend was too strong to break out. Wait for the earnings call.