Trading Callaway Golf ELY With Integrated Risk Controls

June 15, 2022, 18:45 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Callaway Golf (NYSE: ELY) report below can help you, but we have more details too. The trading plans for ELY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for ELY

• Buy ELY slightly over 20.59 target 22.89 stop loss @ 20.53 Details

The technical summary data tells us to buy ELY near 20.59 with an upside target of 22.89. This data also tells us to set a stop loss @ 20.53 to protect against excessive loss in case the stock begins to move against the trade. 20.59 is the first level of support below 21.2 , and by rule, any test of support is a buy signal. In this case, support 20.59 is being tested, a buy signal would exist.

• Short ELY under 22.89, target 20.59, stop loss @ 22.96 Details

The technical summary data is suggesting a short of ELY as it gets near 22.89 with a downside target of 20.59. We should have a stop loss in place at 22.96though. 22.89 is the first level of resistance above 21.2, and by rule, any test of resistance is a short signal. In this case, if resistance 22.89 is being tested, a short signal would exist.

Swing Trading Plans for ELY

• Buy ELY slightly over 22.89, target 23.16, Stop Loss @ 22.82 Details

If 22.89 begins to break higher, the technical summary data tells us to buy ELY just slightly over 22.89, with an upside target of 23.16. The data also tells us to set a stop loss @ 22.82 in case the stock turns against the trade. 22.89 is the first level of resistance above 21.2, and by rule, any break above resistance is a buy signal. In this case, 22.89, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELY near 22.89, target 20.85, Stop Loss @ 22.96. Details

The technical summary data is suggesting a short of ELY if it tests 22.89 with a downside target of 20.85. We should have a stop loss in place at 22.96 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 22.89, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ELY

• Buy ELY slightly over 22.89, target 23.16, Stop Loss @ 22.84 Details

If 22.89 begins to break higher, the technical summary data tells us to buy ELY just slightly over 22.89, with an upside target of 23.16. The data also tells us to set a stop loss @ 22.84 in case the stock turns against the trade. 22.89 is the first level of resistance above 21.2, and by rule, any break above resistance is a buy signal. In this case, 22.89, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELY near 22.89, target 20.90, Stop Loss @ 22.94. Details

The technical summary data is suggesting a short of ELY if it tests 22.89 with a downside target of 20.90. We should have a stop loss in place at 22.94 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 22.89, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

ELY Ratings for June 15:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	18.31
P2	20.05	20.85	20.59
P3	20.90	23.16	22.89

Support and Resistance Plot Chart for ELY

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