SUMMARY
Under Armer (UAA) almost got its head cut given their P&L issues as well as product sales; etc. The chart below shows that the initial five wave ramp (blue waves) was quite a bull run. However, given that five waves had completed, the requisite correction took place and it was very steep. So, is this the end of UAA? I don't think so.
The correction was an ABC and subwaves of C have been marked as complete with five. Given that the downward wedge pattern is also quite bullish once complete, price has already started breaking out and rising. The blue waves indicate the potential price pathway; and the MACD could support, after taking a small dip for blue wave 2. Given this trend reversal in the workings, some rosey days are ahead for UAA!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
