$YETI Potentiation Head & Shoulders Reversal Into IPO Lockup ExYeti'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
YETI - Waiting for a retracement hereGreat company. I've been using their products for a long time. Also, I've been trading the stock since day one. Looking for a pull back here.
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 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 !
$YETI Overbought - Bearish Options Activity$YETI Deep into overbought territory now on the daily chart. Expecting some retracement in the very near term.
Bearish options activity today with 3k $25.00 strike May put options traded vs OI of about 300 for total premium of $1M.
Near term price target - $21.50 by March (~10% downside from today's close)
Note: informational analysis, not investment advice.
YETI: Gap trading opportunity to go shortEntering short positions with stop losses at ATH. Target: $18.
Appears we got a reaction at the 1.618 extension, creating the opportunity to reverse and fill the break away gap. Unless a completely new bullish trend is to be established, YETI will want to return to the downwards channel (or at least to the trend of that channel). Although the company probably won't flood the market with outstanding shares on 4/23, this might serve as a sort of gravity for the stock. Also... check this out... the gap was created around $18.80... just above the IPO price. RSI indicates a buying opportunity and Stoich appears to be crossing over. Divergences are clearer on the 30 min.
YETI ShortYETI is a short-sell for several reasons, but most notably, because they are an over-valued one-trick pony.
If you look at the chart of other one-trick pony's - GoPro would be a good comparison - you will find a similar story. Long-term downtrend expected once YETI "cools off" from the IPO hype.
