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SHORT Callaway Golf Company trading signal - ELY

US stock price signals and analysis

Good morning Traders,

Today, September 07,  Lift-Off offers a SHORT trading signal on the NYSE-listed US stock Callaway Golf Company (Ticker: ELY).

The stock at close of day Friday closed with a  decline in price, ending the day marking -2.82% at $21.33 per share.

The company is engaged in designing, manufacturing and selling golf equipment, apparel and other accessories.

The stock price, given the current macroeconomic news, could experience further declines, returning to past levels, and enter an important zone for the price (see charts below)

In addition, its balance sheets have negative values from a financial strength perspective and a very high level of debt.

Below is the chart of Callaway Golf Company - ELY - with the signal detected by Lift-Off

Below chart with the two take profit levels

The following chart shows the 2020 price area where the price has remained for a few months

The first target where you can close half of the position has a RR of 1:1 on the level of about $19.80, while target 2 you can not put and let it run until the period lows of May 2022, which could lead to a RR of 1:2.21, on this level you can close the position or see how it will behave and if the level will be broken.

Some information about Duke Realty Corporation

Callaway Golf Company, along with its subsidiaries, designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. 

It operates through three segments: Topgolf; Golf Equipment; and Apparel, Equipment and Other. 

The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, plus bars, dining and event spaces, as well as Toptracer ball flight tracking technology used by independent driving ranges and television broadcasts; and the World Golf Tour digital golf game. 

The golf equipment segment supplies drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters and used golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brands.

The Apparel, Equipment, and Other segment offers golf apparel and footwear; golf accessories, including golf bags, golf gloves, headwear, and practice aids under the Callaway brand; and golf and lifestyle apparel, hats, luggage and accessories, footwear, belts, masks, sunglasses, socks, and underwear under the TravisMathew brand.

This segment also provides storage equipment for sports and personal use, such as backpacks; travel and golf bags; and storage accessories, as well as outerwear, headwear, and accessories under the OGIO brand. 

In addition, it offers outdoor apparel consisting of jackets, pants, dresses, skirts, and tops; and outdoor footwear and equipment, including backpacks and bags, travel bags, tents, sleeping bags, and accessories under the Jack Wolfskin brand. 

The company sells its products through golf retailers, sporting goods retailers, online retailers, wholesalers, department stores, third-party distributors, and mail-order stores, as well as through its Web sites in the United States and in about 120 countries. The company was incorporated in 1982 and is headquartered in Carlsbad, California.

Source: https://finance.yahoo.com/

Signal chart for September 07, 2022

SHORT- Callaway Golf Company- ELY

Entry price: $21.33 (and any opening price)
Stop Loss: $22.86
Take profit 1: $19.80

R/R: 1:1

Take profit 2: No target or $18

R/R: 1:2.21

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