Interim President and CEO Colin Browne remained bullish and confident of the Under Armour brand, expressing his support for the team and their ability to deliver more growth and profitability in the future. He also added: At the time of writing, UA is trading up 6.79% in the premarket session, after it beat revenue estimates.
UA chart and analysis
In the last month, UA has been trading in the $7.22 to $8.42 range with a negative long-term trend. With the premarket moves, the short-term trend remains positive while the resistance line moved to $10.36 and the support line to $8. The firm continues to believe that its initial outlook will hold throughout the rest of the year, with the negative influence of the U.S. dollar affecting roughly 200 basis points. However, revenue growth will still remain between 5% and 7%. Investors in Under Armuor have had a tough 2022 as the stock lost over 54% of its value year-to-date (YTD); however, the growth and expectations laid out in the earnings can give them some respite while keeping one eye on macro trends that will play a key role for UA performance. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
