YETI Emerged out of a Bear Market as a New Leader
This stock IPO'd in a bear market and help up pretty well.
Formed a nice Cup & Handle. The best cups seem to form in Market Corrections.
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $61.73
Target Price: $63.00
Stop Loss: $59.59
YETI
Short Term View: Long
Descending wedge still has room to develop. Watching for a breakout to the upside and targeting $92 area. Stock has sold off 30% from the top and if it continues its downtrend to the bottom channel it will be -35%. A rebound is likely with upcoming earnings unless the overall market goes into full crisis mode.
Long Term View: Short...
Resistance zone confluence level reached.
Testing the 0.618 of the latest leg down.
RSI divergence at resistance zone on the 1H
MACD cross over on the 1H
We do have earnings coming our soon, be nimble.
YETI is overextended to the downside on its 6th consecutive red day. It has now exceeded the lower bollinger band and is oversold on the stochastics. It has also reached a support bounce area around 85 range. It also has the 200 sma as support. All this considered i believe a relief snapback bounce is in play until 91 range.
-Yeti picked up the trend on the 9-day and as yall can see we pulled right back to it
-we shall see a continuation of the trend as long as we do not fall below the 9-day
-the green cloud is telling us the bullish momentum we got going on so we have 2 confirmations for the entry your third confirmation should be price action on monday and then you can take an entry
Yeti is looking good , looks to me like we have had only one basing period since the March 2020 crash and this is seemingly Base number 2, I like the massive volume spike experienced in this basing pattern and I like the duration of the basing pattern too , which is a little on on the long side but that's good because YETI has had some time to digest gains and...
The head is at 60.75. LS is 64.80 and RS(right shoulder) is 65.25. Possible stop below lower shoulder. Long entry is a break of the neckline (NL) with an uptrend. Looks like there was a double top before the pull back.
The head and shoulder bottom pattern occurs during a downtrend (there has to be a downtrend to reverse as this is a reversal pattern), with...
Yeti been trading in a downward slopping channel since early Jan 2021. The stock is showing signs of firming up inside the channel and probably setting up for a breakout. Ideal entry would be a on a minor pullback to the $72 area before the breakout takes fold. It is what I will be watching for this coming week.
Yeti Holdings Inc (YETI)- DESIGNS, MANUFACTURES...
YETI has posted a higher low in its daily chart. It seems to be forming a rebound correction wave pattern. It has crossed above its moving averages which will act as support. I suspect this will go the next leg higher to the 79 level of resistance to complete the wave.
YETI has tested support 6 times, with each test demand is being taken out and the support zone is becoming weaker. I suspect this will breakdown to the 63 range. This has also formed several double topping formations.
YETI Holdings, Inc. engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J. Seiders and Ryan R. Seiders in 2006 and is headquartered in Austin, TX.
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