Let’s treat the $89 part first and this starts with the confirmed but misshapen Double Top in Under Armour's (UA) hourly chart that remains confirmed below $102.54 for a target of $97.93.
Should this hourly Double Top work in UA, it will serve to safely confirm a bearish Rising Wedge with a target of $89. 
Having treating the possibility of UA dropping to $89 on a Double Top and Rising Wedge, let’s turn to the “lower” part and the beginning of a much bigger move lower is taken care of by that developing Broadening Top that confirms around $87.50 for a target of $57.50.
Unless UA dodges its Double Top, then, by rising above $107.15 and something that would probably only put in a better apex on its Rising Wedge, it seems likely that UA is going to $89 if not lower.
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Under Armour Going To $89 If Not Lower
Published 06/14/2012, 12:39 AM
Updated 07/09/2023, 06:31 AM
Under Armour Going To $89 If Not Lower
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