Under Armour Symbol Change Confuses Some Investors

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Under Armour Inc UAA shares are trading higher by $1.13 at $32.08 in Wednesday's session.

Some investors were confused when the company changed ticker symbols with its Class C shares, which were formerly UA.C but now trade under the symbol UA, which ended Tuesday's session at $25.41.

Related Link: This Is The Second Time In 2016 Under Armour Investors Might Be Really Confused

Those confused investors are now relieved that the issue isn't trading more than $5 lower than Tuesday's close. In fact, the issue is on pace for its fourth up day in a row.

After a higher open, if found support above the upper part of Tuesday's range ($31.22), only reaching $31.22 before continuing its move higher. At this time, it has climbed into the $32 handle with $32.20 as the current high for the session.

If the rally continues, there may be some resistance at the trio of highs at the $32.50 area from mid-November.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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