Under Armour Bulls in Charge

Published on Tuesday, 19 June 2012 12:34 Written by TradersHuddle Wire

New York, June 19th (TradersHuddle.com) - Shares of Under Armour, Inc. (NYSE:UA) booked a new 52 week high today by trading above $107.15, traders are definitely monitoring Under Armour's price action to see if this move attracts further buying into the stock.

Under Armour, Inc. (NYSE:UA) develops, markets, and distributes branded performance products for men, women, and youth. The company offers products made from moisture-wicking synthetic fabrics designed to regulate body temperature and enhance performance regardless of weather conditions.

Under Armour is currently trading 0.72% versus its previous trading session close, and it has calculated support and resistance at $100.11 and $107.15 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 1.02% from its previous trading close, which means that Under Armour stock is underperforming the overall market.