In this updated daily bar chart of UAA, below, we can see a broad sideways trading range market but recently the chart has gotten stronger. Prices are now above the rising 200-day moving average line and above the bottoming 50-day average line. Volume really jumped and this has turned the On-Balance-Volume (OBV) line up and close to a new high. A new high in the OBV line would be leading the price action. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration above the zero line.
In this weekly bar chart of UAA, below, we can see what could be a two-year base pattern. Prices are above the rising 40-week moving average line and the $25 level is the breakout point. The weekly OBV line has begun to improve from December and the MACD oscillator is hugging the zero line for its next signal.
In this Point an Figure chart of UAA, below, we can see a price target that is just a slight new high - good enough, in my opinion, for a breakout.
Bottom line strategy: after a two year base it looks like UAA is ready for an upside breakout. Add to longs on strength and risk below $20. $32 is my initial price target.