YETI looks as though its forming a rounding pattern. This can hit the target up to $27.50-28 for 5-7% profit, until it reaches upward resistance. But it does have the potential to go up towards $29 until it may retrace more
significantly
I think aiming for c is a possible scenario which is worth pursuing
based on:
Elliot wave completion of C
Fib retracement of 618, given that market has respected 0.5 so far
however, this would mean that the market has not respected the pitchfork boundaries during the C move, which makes me wonder if we have actually completed the retracement and now trying to...
Possible morning star pattern a few days ago. Stock looked bullish despite the market sell-off. Pattern doesn't indicate short or long-term reversal, but good bet to move towards nearest resistance (assuming market allows).
Disclaimer: This is not investment advice.
Selling brings more selling and as insiders offload many others follow, it has a dominos effect as stop losses are hit and profits are protected. The stock had a marvelous run but we suspect that we could see the $19 region hit very soon. The only line of protection is the 100 MA at $24.40 but if the market continues bearish next week it will have no significance,...
After a massive run since its IPO, which we missed out on, waiting for a pullback that never came, we are looking to enter a position now as earnings and lock up expiry selling is complete. On Friday or Monday, when we have more clarity on the China trade situation we will hopefully initiate a long if the market turns positive.
Updated count on YETI since by B wave count was wrong. Overshot the 1.272 for wave 3, indicating that the 1.618 will likely be reached. This puts us at $38.50 range to complete the 5 waves up, confluence by 2 pitchforks and 3 major fib extensions. Looking for a retracement to $34 before going long for this move. Preparing to short above $36 and continue...
YETI has doubled since IPO offering insiders a good chance to cash in on their shares. Lockup expiration 4/23, if we see selling before earnings maybe an indicator to performance. Decent room on trend snap. Hitting new highs so stop above that decent risk reward as I have intrinsic value near $16 on my model. PE near 50 for this type of product is pretty high in...
YETI lock up expiration was 4/23. Stock has doubled since IPO and insider have a nice chance to cash out. More competition in the market. Intrinsic value near $16 being generous. If shares don’t snap the trend line before earning, possibly earnings will be better than expected? Will be hard to justify earnings with a PE of 50 for this type of product.
I called the top on my previous YETI post on a 2.0 extension. Currently watching this count to initiate a wave 3 down. Overlayed EW theory and lines up nice with the IPO share unlocking. Look for one more roll upwards to finish sub-wave 5 of wave 2.
Potential for 50% drop on wave 3 alone. Purchasing mid/late May puts otm sometime next week if the wave 5 of 2...
1. 50 MOVING AVERAGE IS ABOVE 150 MOVING AVERAGE. GOOD
2. JUMPED OVER VERY STRONG RESISTANCE Fibonacci LEVEL MOST LIKELY SHOULD BREAK TRUE $34 RESISTANCE LINE AND GO UP TO AROUND 0.78 Fibonacci LINE $37-$38. GOOD.
3. STOCHASTIC UNDERSOLD ( GOOD )
4. RSI GOOD. PASSING TRUE RESISTANCE. EVEN JUMPED TRUE RESISTANCE. ( GOOD )
------ GOOD WE ARE BULLISH GOOD...
Yeti's IPO Lockup Expiration Date is 4/23/2019.
Just by observing the premium on puts, everyone is expecting a leg down into this. Let me know what you think.
Yeti is a stand out stock for the first quarter but it has run to far to fast. It has recently become more bearish and with so many late buyers to enter the stock, any reversal could be intensified with pressure to cut losses.
indicators are pointing to negative price action, if you are long bank profits before others do, it is now A CLEAR short candidate.
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YETI
