Turning The Tables:

Since the beginning of September Under Armour has gained ground 13 of the last 15 weeks, almost doubling in the process from top to bottom of the time range. Now that is not to say NKE has not performed, as it has advanced 14 of the last 18 weeks. More recently it has traded between the round 120 and 140 numbers, after a nice gap fill on 10/30 from the 9/22 session. The ratio chart comparing the two below show how well UA is acting against NKE. Over the last 3 months UA is higher by 64%, and NKE by 21%. Of course part of the reason for this is the easy bar UA had to cross, coming off such a low level, measured against NKE. On their own individual charts UA just broke above a bull flag formation pivot of 15, which carries a measured move to 17.50. NKE seems a bit extended but if one is already long, they can say so. Always remember that the ratio chart does not mean both names that make the observation can not be acting well. Both are yet NKE trades just 1% off most recent highs, while UA is 22% off its annual peak last December.

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