YETI trade ideas
$YETI Things are going downhill for YETI, but not for insiders.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, the stock will drop.
Company Description
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.
YETI Holdings Inc. (YETI)’s director and 10% owner Roy J. Seider, 10% owners Rayan R. Seiders and Cortec Group Fund V LP sold 9.32 million shares for an average price of $28.5 per share on May 15.
$YETI PULLBACK HAS PROVIDED A ENTRY TO THIS HIGH FLYER. 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.
It was actually a wave 5Updated 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 positioning through the target.
I stretched a fib retracement from the target price and the levels land nicely where we see recent price action. Wave A should slice thru to $30- 33, break the major pitchfork and continue down to $23-25. The 786 level cant be ignored down at $18. Note the RSI bearish divergence.
YETI Short Idea 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 my opinion.
YETI Short Idea 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.
YETI - THE PATH TO GAINS! WAVE 3 INCOMINGI 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 plays out.
LOOK TO SHORT AT $32.50-$33.31 OR IF $30.67 IS BROKEN.
YETY ON BULL RUN GOOD ENTER POINT 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 ------
GOOD ENTER POINT.
$YETI YETI TOPPED, TIME FOR SHORTSYeti 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.
YETI... YES START SHORTING!EW count and subwave count shown. I suppose subdivision of wave 5 is also valid (not shown). We hit the 2.0 extension from wave 3 to 4. However, there is still significant confluence around the $35.50-$36 range, as shown by extension from 1 to 2, and an additional extension from IPO rally to lows.
Shorts were opened this morning around $34.25 and looking to add around $35.50 IF we get there. For the more conservative investor, look to short when the red major support line is broken. When that support is broke, the MACD histogram may also turn red. There's a gap under $20 that's hard to ignore, but at the least look at the 618 or 50 from the recent run up for targets. Pay attention to the RSI channels to confirm pivots.
Fundamentals: Fundamentals don't matter in this stage of the market, but note that these guys make coolers. If you need to know more than that to confirm your shorts, their remaining IPO shares will be available mid April. This could be gravity back to their IPO price.
YETI - Comments PleaseI've only been studying charts for about a month and this is my first post. Please tear it apart gently :-)
My thoughts are that we should be seeing bullish activity on Monday. A lot of excitement NYSE:YETI and after the mess on Friday, people are gong to want to get in on a popular stock. However afterwards an overall bearish trend because of the weak support and start of head and shoulders pattern. Yeti seems overbought and I don't feel like it can keep up this pace.
Thanks...
Yeti in another rectangle chart pattern...Could it go up again?NYSE:YETI finds itself in another rectangle chart pattern and has encountered resistance at the top of the pattern at about $25 USD. If it breaks and closes above the resistance level, it could go even higher at about $30 USD. However, if it breaks down, it could find itself at the previous rectangle levels. It'll all depends on next earnings call.
NOTE:
I am not an experienced trader. I do this for fun. Do your own research.
Trolls are not tolerated. However, comments and likes are welcomed.
Yeti Monday Blood Looking at Yeti, This thing has been a true FUCKING BEAST ! Ran %138.55 percent in the last 83 days but at some point even Yeti's have to fight with the bears to survive !
I see a perfect elliot wave structure , this being the 5th wave and also showing bearish divergence on pretty much every timeframe i will be looking for a short. I got my 5th wave projection by taking the overall structure of the first 3 waves retraced to the bottom of the fourth and extended %61.8 .Im expecting a wick to around $30.60-$31.00. My retracement targets are just orderblocks close to important fib levels . This has been working great overall for my trading strategy so lets see what this baby does !