giddings_ag_06 said:
What do we think about UAA? Sportswear sector has a crappy forecast, but Kevin Plank is in charge again and seeing how low it's gone, I bought some. With Adidas having issues in Europe (I think that's what I read last week), I'm thinking there may be some foreign growth opportunities.
Man it's an ugly long term chart. Got the bounce it wanted in 2020 but couldn't sustain. Sold all the way back off and to new lows. But support is still upper $5's and it never crossed below.
It needs to get above $10 in the coming months. Any further selling and it's threatening unwinding all of its action since 2009.
They have a good amount of longer term debt. But they have decent liquidity. I don't see any huge fundamental red flags other than debt to assets and debt to equity, but they aren't out of line on the surface, just a product of the current debt environment.
I'd like to say it won't see under $7 short term and can get to $14-$18 this year. But again, it's an ugly chart with no clear signs of strength. Not something I can confidently play. If I owned it already at a high basis, I'd probably just bag hold. If my basis was under $10, I might have a stop at $6.25.
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