We last looked at Under Armour (UA) in September when we said, "The downtrend in UA seems to be dominating the price action. A bottom, should it develop, will take time and months of sideways price action." UA is up today on the back of an industry upgrade but let's check out the charts and indicators.
In this daily bar chart of UA, below, we can see that prices continued still lower after our last review. Prices dropped sharply in late October and early November. Prices have inched quietly higher from that November low but today prices gaped above the declining 50-day moving average line. While this current price strength is a positive there are reasons not to become too bullish. Prices are still below the declining 200-day line. Looking at the chart from right to left you can a number of layers of potential resistance, the first is the $15-$17 area. The daily On-Balance-Volume (OBV) line was in a decline until November and now it has only moved sideways. If investors are more positive on UA they are not showing signs of aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator has come up to the zero line where is may or may not cross the line for a buy signal.
In this weekly bar chart of UA, below, we can see that prices are below the declining 40-week moving average line. The weekly OBV line only shows a minor up move. The MACD oscillator looks like it will signal a cover shorts buy signal.
In this Point and Figure chart of UA, below, we can see a possible price target in the $17 area.

Bottom line -- with no good signs of a bottom, I would wait for UA to show us more.