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.
Will You Have Enough Money to Retire?
Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.
