EarningsBeats Digest

Published: Mon, 10/26/20

EarningsBeats.com Digest for October 26, 2020

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It's Ironic But YETI Might Have Formed A Cup With Handle

I'm bullish the consumer discretionary sector (XLY) and, more specifically, the recreational products group ($DJUSRP). So I'm keeping a close eye on leaders in this area and I believe one of those leaders is Yeti Holdings, Inc. (YETI). The stock has more than tripled since its March low, but I think it might just be getting started. If there's one company that's truly, and quite literally, benefited from a cup with handle, it's YETI:

YETI has shown leadership qualities since bottoming in March and there's likely a reason for it. I suspect we'll find out why when YETI reports its latest quarterly results on Thursday, November 5th, before the market opens. The recreational products area was a laggard last week and YETI used that weakness to set up its handle on 20 day EMA support. If money returns to both the XLY and DJUSRP in the week ahead, don't be shocked to see YETI surge out of its own cup with handle!

Happy trading!

Tom Bowley

Chief Market Strategist

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