We might be seeing the market confirm a price bottom in Under Armour (UAA). UAA 4H Chart(click to enlarge)Breakout:- The 4H chart shows that price has was bearish heading into February, but then flattened into a consolidation range.- In June, price broke above the range resistance, which was the first clue that UAA is on a recovery mode. - After the breakout, price retreated, and we noted that if price can stay above the middle of the range, that means the market is respecting the price broken range as a price bottom.- And that is the scenario we are seeing materialize.- Another good sign for the upside is that after price broke above the 200- and 100-period simple moving averages (SMAs) in the 4H chart, UAA then bounced off these SMAs. This is call a "sling-shot" signal. - Yes, there was a brief break below, but price came back above within the same trading session.- Also, the RSI is holding above 40 after it pushed above 70, which is a sign that bullish momentum is developing.- For now, we should limit our upside to 28.