2016 NBA Finals-Game 7
Golden State Warriors vs Cleveland Cavaliers
$UA- Under Armour
Stock has been consolidating between $35-$39 for the past 6 weeks. I would initiate a long position as close to $35 as possible. I wouldn't chase.
I would trim my position around $41/$42. Conversely, a loss of game 7, may prove to be a good short term short. I would wait for the "fake" out, and short around the 200 day MA of $41/$42
A long position entered around $52/$53 represents minimal risk from a R/R perspective. Any sustained move above $55 would be a good sign for this stock. If it holds $55; I would let it ride and have the market give me what it has to give. Conversely; a good short would be shorting the back test area of $55.