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FriscoTrades
Apr 19, 2022 3:22 PM

$ELY longer term trade idea Long

NYSE:ELY1W

Description

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Started a LEAPS position with JAN 2024 25c on Callaway Golf.

Technically at good support (which was previously resistance), and appears to have bottomed.

Will add upon breakout of dotted down trendline.

More conservative idea would be to wait for breakout and confirmation, hence why I only purchased a few contracts, and this is a long term idea.

Keep an eye on volume, it needs more .

Breakout with volume and confirmation of bottoming - full position


Cheers



Support and ResistanceOscillatorsVolumeleapstradeideaELYgolfoptionsstrategiesswingtradingStocks
Comments
hungry4profit
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I like this a lot. Sitting on 200 week EMA currently I feel like this could be taken now with small size for an aggressive entry but like it for a longer term play. Fundamentals for the golf apparel industry as a whole also appears to be improving long term in my opinion.
FriscoTrades
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@hungry4profit, Thank you appreciate the feedback ! A lot of stocks look to be finally forming bases, I think ELY is one of them, Golf certainly isn't going anywhere , I like LEAPS after earnings/ once the downward trendline is broken
TORNADOF5
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hey ,what you think about NOV , Dnow ,seems like i missed dnow nice move like always did not expect it ...but it has strong resist at 12.00 it seems , maybe it will pull back ...
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