I know nothing about the game of golf but I think I know something about charts. Let's see where the charts of ELY line up.
In the daily bar chart of ELY, below, we can see that prices declined sharply in the fourth quarter last year. Prices went into a sand trap with two downside gaps and heavy volume. ELY did not make a low until late December and then we saw a retest last month. The chart looks like a small five-month base or consolidation pattern.
Volume has been increasing from January which is positive but the On-Balance-Volume (OBV) line has been up and down this year. The Moving Average Convergence Divergence (MACD) oscillator has been crisscrossing the zero line since February and recently crossed to the upside for a cover shorts buy signal.
In the weekly bar chart of ELY, below, we can see that prices had a strong run from 2016 at around $10 to over $24 last year. Prior resistance in the $14-$15 area from late 2017 acted as support this year.
The weekly OBV line peaked with prices in September and made a relatively shallow decline especially compared to the price drop. The weekly MACD oscillator has been improving since early March.
In this Point and Figure chart of ELY, below, we can see the double bottom at $14.56 and the upside price target of $17.33 -- not quite an upside breakout. A trade at $17.77 would be bullish for ELY.
Bottom-line strategy: ELY has some hurdles to clear such as closing above the 50-day and the highs of March and April, but if Tiger can make a comeback maybe ELY can too.