Under Armour (UAA) - Get Report has been gapping lower on negative reactions to earnings for many quarters now, but has been stabilizing since trading as low as $18.34 on May 19. In a recent interview, CEO Kevin Plank bashed arch-rival Nike (NKE) - Get Report , who reports earnings later this week.

Weakness in shares of Under Armour could be offset in the eyes of investors as their golf poster boy Jordan Spieth "chest bumped" his caddie after holing out from a bunker in sudden death to win the Travelers Championship on Sunday.

The daily chart for Under Armour shows huge price gaps lower on Oct. 25 and again on Jan. 31, but stabilized with a modest gap higher following its last earnings reported on April 27. The stock is stabilizing above its 50-day simple moving average.

The weekly chart for Under Armour has been positive since the week of June 9, but shares are well below its 200-week simple moving average, considered the "reversion to the mean." As long as the weekly chart remains positive, the stock can rebound back to the "reversion to the mean" last tested at $33.24 during the week of Dec. 9.

The Daily Chart for Under Armour

Image placeholder title

Courtesy of MetaStock Xenith

The daily chart for Under Armour has been trading sideways since the spike lower on Dec. 31. After trading as low as $18.34 on May 19, the stock moved above its 50-day simple moving average in blue on June 2 when the average was $19.88. Today, the 50-day simple moving average is $20.39, while the 200-day simple moving average is a target of $26.65.

The Weekly Chart for Under Armour

Image placeholder title

Courtesy of MetaStock Xenith

The weekly chart for Under Armour is positive, with the stock above its five-week modified moving average (in red) at $20.81. The 200-week simple moving average or "reversion to the mean" (in green) is $34.30. The 12x3x3 weekly slow stochastic reading ended last week at 56.38, up from 51.04 on June 16.

Current Strategy: Buy weakness to my weekly value level of $19.70. Reduce holdings on strength to my quarterly risky level of $30.73. My annual risky level is $39.09.

Visit here for the latest business headlines.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.