We looked at the charts of Yeti Holdings ( YETI) on October 26 and recommended that "Traders who are long YETI could raise stops to $84 from $81. $104 and then $135 are our price targets." 
Prices rallied into the $105-$110 area and have turned lower. Hopefully traders used that strength to take some profits at or above our $104 target. Let's look deeper.
In this updated daily bar chart of YETI, below, we can see that prices gapped lower the other day and are testing the 50-day moving average line. The daily On-Balance-Volume (OBV) line shows a slight curving to the downside suggesting that sellers of YETI are quietly being more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is crossing to the downside for a take profit sell signal.
In this weekly Japanese candlestick chart of YETI, below, the two most recent candles are making a large bearish engulfing pattern. This is a top reversal pattern that I do not want to ignore. Both the weekly OBV line and the MACD oscillator are pointed down.
In this daily Point and Figure chart of YETI, below, we can still see an upside price target but the reversal lower after an upside breakout is not good in my book.
Bottom line strategy: The large bearish engulfing pattern on YETI tells me that we should exit all long positions. I have no idea what traders may be anticipating but it does not look bullish. Avoid the long side until the charts suggest rebuying.
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