Hello Friends,
Masters Week means golf talk.
NEWS
Calloway merged with Top Golf in 2021, but sold a majority stake of the money pit to a Private Equity firm earlier this year. The move should reduce overhead for Calloway as the cost of a full bar & restaurant driving range appears unsustainable.
TECHNICAL
Volume is trending slightly lower as
CALY approaches its first real earnings report after divesting from Top Golf, suggesting a hesitant sentimentality.
However, we are seeing a nice falling wedge/bull pennant near completion signaling a possible imminent breakout.
50 D SMA is overextended from 365 D SMA
OUTLOOK
Earnings post restructuring should be more realistic and investors will be pleased to be out of the upscale driving range business. Month-to-month I like it as a swing trade. Long-term I am skeptical and believe you can find better investments for your money. The golf industry does not strike me a huge growth industry as a whole.
Modest Target of $15.5
Aggressive Target of $20.00 - $22.00
Ultra Aggressive Target of +$26
Masters Week means golf talk.
NEWS
Calloway merged with Top Golf in 2021, but sold a majority stake of the money pit to a Private Equity firm earlier this year. The move should reduce overhead for Calloway as the cost of a full bar & restaurant driving range appears unsustainable.
TECHNICAL
Volume is trending slightly lower as
CALY approaches its first real earnings report after divesting from Top Golf, suggesting a hesitant sentimentality. However, we are seeing a nice falling wedge/bull pennant near completion signaling a possible imminent breakout.
50 D SMA is overextended from 365 D SMA
OUTLOOK
Earnings post restructuring should be more realistic and investors will be pleased to be out of the upscale driving range business. Month-to-month I like it as a swing trade. Long-term I am skeptical and believe you can find better investments for your money. The golf industry does not strike me a huge growth industry as a whole.
Modest Target of $15.5
Aggressive Target of $20.00 - $22.00
Ultra Aggressive Target of +$26
Trade active
CALY jumped way before I expected. It nearly touched $15.50, but we'll see if investors take profit after that big day in April or keep pumping. Trade closed: target reached
I look away for 2 months and look what happens. Just like golf. Full of missed opportunities and bad shots. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.