YETI trade ideas
$YETI Channel BreakoutYeti 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 AND MARKETING INNOVATIVE AND OUTSTANDING OUTDOOR PRODUCTS.
YETI Rebound WaveYETI 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 6th test breakdownYETI 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.
$YETIEntry price : 66.83
Fundamentals :
- Sector: Leisure products
- EPS % Chg (Last Qtr): 132%
- EPS % Chg (Previous Qtr): 46%
- 3 Year EPS Growth Rate: 67%
- EPS Est % Chg (Current Yr): 58%
- Sales % Chg (Last Qtr): 29%
- Sales % Chg (Previous Qtr): 7%
- 3-Year Sales Growth Rate: 17%
- Annual Pre -Tax Margin: 13.8%
YETI - growing too fast maybe?? BUT I Like the story!Yeti Holdings was falling Friday, as Citigroup warns that the cooler maker may struggle to keep its rally going.
Analyst Wendy Nicholson downgraded Yeti (ticker: YETI) down to Neutral from previous Buy, while raising her price target to $85 from $69.
Tough to keep it going... I think...
The stock is up almost 400% from its low in March 2020, and Yeti easily notched a triple-digit gain for the year as a whole—a major rally.... possibly too fast.
Yeti now trades around 40 times 2021 earnings-per-share estimate, meaning it has one of the highest price/earnings multiples in its coverage. It does deserve some premium for its strong growth, but it maybe “limited room for multiple expansion” looking ahead, as its valuation is already at an all-time high.
BUT it really was a no brainer as with the steady climb......as it RODE THE STAY AT HOME "STAYCATION LIFESTYLE" ----outdoors---- THAT BENEFITS YETI --- for sure.
WHAT IS interesting is the approx 18 million buy on a single day Jan 20, 2021. The last time it had a similar HUGE buy in was last year near April of 2020 after the market crashed and started to pull upward. Other than that average daily volume was fairly modest and low anywhere between 700k to 3M
KEY: 50-day moving average ---- SEEMS RIGHT ON TARGET and not too far ahead of itself as a chart pattern...as it came back to down to the 50MA. since mid-January.
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YETI - impulse waveOutcome Predictions
- (pink) price continues with uptrend until after earnings report. stock hits price high for wave again before correction and EMA folding over before 5th wave
- (blue) EMAs fold over now with larger drop to $62
- (purp) correction already over
Patterns
- two nearly identical bull runs
- may have already seen same $12.50 drop twice
- third stair would create 5 wave uptrend
- steady and significant earnings growth for last 3 years
Other Factors
- extremely strong brand
- dominance in general market sustained by dominance in specific markets (eg. fishing), unlike competitors (hydro flask)
- upcoming earnings report
Doubts
- the patterns I mentioned are kinda silly
- no major signals, these are pretty much wild guesses
*** WARNING ***
I am very new to this, don't trust me!
YETIOne of the rare chances to buy this paper at an adequate price. The breakout of the high triangle is expected and the price goes up. The paper tends to move quickly. Since the resistance level has not yet been broken, 2 scenarios of the security movement are possible (indicated by arrows of different colors). Upon reaching the goal, observe the behavior of the paper and what pattern it will form at the top, do not rush to exit the position, I think the paper will continue to grow.
YETI SnapbackYETI had negative volume today after gapping up. Finished red on the day creating a top doji. It is currently overextened on stochastics and the bollinger bands. I entered into this at 78.5, looking for a decline back to support level of 74.3.
YETI on watchYETI broke from a nice consolidation pattern, retested hard then recovered quickly. I see this a sign of strength.
Look for tighter price action in the box then break above box. Risk is below box and targets are the dotted lines.
YETI slingshot to tag the ATH again!Looks like YETI is giving us another entry before pushing up again! Long at 58.88 with a target of 62.65!
YETI. WAS TIGHT$YETI BROKE OUT OF RANGE I POINTED OUT. HOW FAR WILL IT GO? FUCK IF I KNOW. JUST SET A STOP AND LET IT RIDE.
BREAKOUT CUP WITH HANDLE AND HIGH VOLUM BUY YETI 60.50$Yeti (YETI) is the IBD Stock of the Day after crushing Q3 earnings estimates as "accelerating interest" in active lifestyles during the pandemic fueled its premium outdoor products business. Yeti stock broke out but is already extended.
Profit soared 126% to 61 cents per share, smashing views for 37 cents. Revenue rose 29% to $294.61 million and also beat views for $264.73 million. That marked a big acceleration from the prior quarter, when Yeti earnings grew 37% on a 7% sales gain.
Coolers and Drinkware drove results, up 27% and 31% respectively. Yeti cited "continued strong demand for outdoor recreation and leisure lifestyle products and an increasing shift to online shopping," as a result of the ongoing coronavirus pandemic.
1% CAPITAL
YETISeeing some consolidation around the 1.618 extension level. Showing some momentum divergence in the RSI. Would like to see this one break above $53
YETI Round DownYETI on the hourly chart is showing bearishness. Price is under the moving averages and is converging downward. On the daily it has also closed red after testing the 13ema. This is a sign a pullback to the low end of the range may take place.
YETI Wave4 [SwingTrade]All information should not be taken as call to Action, this is my personal view of market situation.
Game plan for YETI based on ElliotWaves
We in correction now. Most probably WaveC. And based on Fib ratios and previous wave3 support levels, we can point several areas of possible reversal.
GamePlay1 - 41-40$ / 39.99$ ( risk 1$ )
GamePlay2 - 34-32$ / 29.98$ ( risk 2-4$ )
Target: 54$
By reaching stop at 29.98. Plan will be canceled.
You may like or hate my views. But most important, stay calm and do not give more money to the market than You Decide !!!
