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  1. Home
  2. / Investing
  3. / Stocks

YETI Could Be Peaking: Protect Long Positions

It may be time for some profit-taking with outdoor camping and gear retailer YETI.
By BRUCE KAMICH
Mar 19, 2019 | 02:12 PM EDT
Stocks quotes in this article: YETI

YETI Holdings Inc. (YETI) may have peaked.

Let's look at the charts and indicators.

In the daily candlestick chart of YETI, below, we can see two bearish candles patterns -- one on Monday and another today. Prices have more than doubled from their December low, but volume is off from February and momentum is showing a bearish divergence.

The daily On-Balance-Volume (OBV) line does make a new high this month, but that suggests buyers have been more aggressive recently. Normally this condition is bullish, but in this instance we may have a number of recent longs who are stuck with bad positions which they could be forced to dump in the days ahead.

In the lower panel is the 12-day price momentum study, which shows a slightly lower peak in March versus February -- this is a bearish divergence when compared to price which has made a higher high.

In this Point and Figure chart, below, we can see an upside price target for YETI, but also that a reversal could be occurring with no nearby support seen.

Bottom-line strategy: If you are long YETI from lower levels, consider reducing your exposure and booking profits.

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TAGS: Investing | Stocks | Technical Analysis | Food & Drink | Consumer Discretionary | Sports

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