TopGolf | MODG | Long at $7.85 TopGolf NYSE:MODG finally closed the last price gap on the daily chart from the 2020 pandemic crash. All price gaps (as of this analysis) are now above the current price. While I am not stating this is bottom (high $6's or even low $5's are not fully off the table given the downward momentum), there is a lot of growth still on the table for this company. The current fair value is probably near $18-$19 and this stock has a cyclical nature to it. So, while it may be a bumpy near-term investment, the earnings growth, cashflow, and low debt of this company is appealing. Thus, at $7.85, NYSE:MODG is in a personal buy zone (starter position) with more investment is if dips into the $6- or $5-range.
Target #1 = $10
Target #2 = $12
Target #3 = $14
Target #4 = $15
Golf
XAUUSD Cup and Handle Update LONG SETUPThis pattern is completing itself with the handle formation in a descending parallel channel.
The handle is now about 1/3 in depth from the top of the cup compared with the bottom.
Any retracement less than 50% and the pattern is intact.
Spot gold decreasing while DXY rising.
Now awaiting a breakout to begin bullish continuaton.
XAUUSD SPOT GOLD 4H CUP & HANDLE PATTERN OANDA:XAUUSD
The chart shows the pattern forming awaiting the completion of the handle.
Cup indicator calculated radius /depth.
This supports an uptrend for XAUUSD overall although it may downtrend
in the short-term in the handle formation.
Horizontal resistance lines are drawn to use as targets in a tiered
closure of the intended trade.
I will watch for buying volume as the price approaches the top of
the cup to confirm the pattern and a strong directional
move to enter the setup
What is your opinion? Please comment.
$ELY longer term trade ideaStarted 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
Acushnet Could Provide A Hole In One.Acushnet has been trading in a fairly consistent downtrend since reaching its all-time high, and on Jan. 20, the stock began to develop a descending trendline, which has been acting as heavy resistance. On Friday, Acushnet attempted to break up bullishly from the trendline but failed and wicked from the level.
The move higher to the trendline may have been caused by a double bottom pattern that Acushnet printed on Wednesday and Thursday near the $39.75 level. If the pattern continues to be recognized on Monday and big bullish volume comes in, it may give Acushnet enough power to break up from the descending trendline, which could indicate a larger reversal is in the cards.
Acushnet’s most recent higher low was printed on April 5 at $42.62 and the most recent lower low was formed at the double bottom. If the stock is able to break up from the trendline, it will print a higher high, which will negate the current trend.
The stock has developed bullish divergence on the daily chart, where the relative strength index has been in an uptrend while the stock moves in the opposite direction. This makes it likely that Acushnet will trade up higher in the future to correct the divergence.
Acushnet has resistance above at $42.18 and $44.55 and support below at $39.75 and $38.26.
Extremely Bullish on $GOLF $GOLF is growing exponentially and will never go away!
Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of golf products. It operates through the following segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, FootJoy Golf Wear, and Other. The Titleist Golf Balls segment involves in the design and manufacture of golf balls. The Titleist Golf Clubs segment designs, assembles, and sells golf clubs such as drivers, fairways, hybrids, and irons. The Titleist Golf Gear segment offers golf bags, headwear, gloved, travel gear, and head covers. The FootJoy Golf Wear segment includes golf shoes, gloves, and apparel. The company was founded by Phil Young in 1910 and is headquartered in Fairhaven, MA.
Gold Futures - A Break Out in Progress?The gold futures have been a really interesting market over the last twelve months or so. The trends currently seems to be behaving in line with historic correlations, but for most of 2020 it was anyone's guess which way the market was going to go.
I note overall from a long term trend perspective gold is a bear market (below the 200 Day MA - currently about 1860). However, this analysis is more focused on the shorter term moves.
Looking at the Gold Futures currently, it looks like a double bottom has formed around March 8/9 and March 30/31 with the price bouncing off around 1670ish twice. between these two dates, the market seemed to consolidating (short time frame though so not overly reliable) before breaking out of that range and 8/9 April. The pullback on Friday was pretty sharp, with a big down wick (the breakout circled in blue), but ultimately the uptrend seems to have held - just.
Now that the price is heading towards the 50 MA again that could act as resistance (in fact the 8/9 candles show some indication of that), if we see a break above the 50 MA we could see further upwards movement on this market. A market to watch I think.
If you've liked this analysis head to my blog - www.nickthetraderguy.com where I document my trading journey.
Callaway Golf looks like it stalled out of momentumComparing them to peers is ugly as Acushnet/Malibu/Johnson Outdoors all have a net margin of 4-9%.
Earnings growth is average relative to peers.
Revenue Growth of +5% is meh.
XAUUSD Gold | SWING - 10. Sep. 2020Hello my friend | Welcome Back.
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If it does not fall back into the trend again, it may head down to $ 1,815
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
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The information given is not a Financial Advice.
BTCUSD Apple GBPUSD EURUSD XAUUSD AUDUSD
GBPCAD | SWING - 30. AUGU. 2020Hello my friend | Welcome Back.
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It was trading on a falling wedge pattern, and this pattern has been broken. Of course, it may head towards a very strong resistance, which is the profit-taking area
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.