Under Armour
- Nearest Resistance: $43
- Nearest Support: $38
- Catalyst: Analyst Downgrade
Athletic apparel stock Under Armour (UA - Get Report) is continuing a multi-day selloff this afternoon, shedding another 6.3% on big volume following news of two management departures as well as a downgrade from Brean Capital. Under Armour is losing its chief merchandising officer and chief digital officer, part of the reason behind Brean's decision cut Under Armour to a hold.
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Technically speaking, today's session appears to be the final straw in this stock's price trend. Shares are violating the lower-end of its uptrend this afternoon, ending a trend that had been in place for nearly all of 2016. From here, Under Armour could slide further this month before it catches a meaningful support level.