BradWeber82

ELY Daily with Fib, StochRSI and MACD

Long
NYSE:ELY   Callaway Golf Company
Trying new systems. I am someone who is always messing around on the weekends and probably should stop doing that as often. But to be honest, I scrapped my EMA strategy and now I am trying to perfect something for me.

Indcators:

200MA - Notice it running directly in the middle of the fibs and most recently turning on an uptrend.

StochRSI has also confirmed an uptrend on the daily chart . MACD has shown a bit of a loss of momentum but I would take entry based upon 2 out of 3 positive indictators.

Fib Retracement - These work in numerous areas to show support/resistance .

My plays (do your own DD not advice) but I am watching for entry on $30 2/19 CALL and $40 3/19 CALL. Earnings in February.

Target price - $40. Starting at the bottom candle on the daily in March, running directly through to the price target of $40 gives us our trendline of how the stock needs to perform (most likely) if we want to see that target.

$ELY $SPY


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