Is Yeti ($YETI) done going up…or is it just starting? – June 7, 2021
YETI
I want to look at Yeti Holdings ( NYSE: YETI ) today because this had a big pop today. You can see, right away in the morning it ran up, just paused for a little bit, not very much of a pullback at all, this is a 15-minute chart. So by straight-up 10:00 it was up and then it just pulled back for like half an hour and then it’s off to the races again.
This is a stock that is under some pretty good buying pressure and I suspect it’s going to stay in the buy zone. So while it seems like, oh crap, it went up almost 7 percent today. You can look at it that way, but the way I look at it is this, I would say $90.00 is the breakout point, that’s the line of resistance. So if you look at this just from $90.00 it’s up less than 3 percent on a breakout.
When I look at things that way this doesn’t mean so much to me, it’s the 3 percent that means something. So I would be okay buying this stock as long as you have a stop in place to protect just in case the stock breaks back down. But I would be buying this stock and look for, say, an upside of maybe $100.00, something like that.
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