Callaway Golf Co. (NYSE:ELY): The company’s 18 May breakout is confirmed We see it as a Strong Buy with a target price of 23/share.
ELY finished at 16.43+0.64 (+4.05%) on the close: 4:00p EDT, and is indicated at 16.50 +0.07 (0.43%) Before hours: 4:33a EDT Wednesday.
There is Strong Support at 14.12 and Key resistance at 18.33, our Key indicators have turned Very Bullish and we are Bullish across the board with a Very Bullish bias.
Callaway Golf Company with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products.
It operates through 2 segments, Golf Equipment, Apparel, Gear and accessories.
The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.
The Apparel, Gear 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, hats, socks, and underwear under the TravisMathew brand name. This segment also provides storage gear for sport and personal use, including backpacks; travel, duffel, and golf bags; and storage gear accessories, as well as outerwear, headwear, and accessories under the OGIO brand. In addition, it offers outdoor apparel, such as jackets, and trousers and tops; and footwear and outdoor equipment, including packs and bags, travel bags, tents, sleeping bags, and accessories.
The company sells its products through golf retailers, sporting goods retailers, mass merchants, Internet retailers, department stores, field representatives, online retailers, mail order stores, and in-house sales representatives, as well as to 3rd-party distributors in the United States and approximately 100 countries. It also offers pre-owned golf products through its Website callawaygolfpreowned.com, and OGIO and TravisMathew products through its Websites callawaygolf.com, odysseygolf.com, ogio.com, and travismathew.com.
The company was incorporated in Y 1982 and is HQ’d in Carlsbad, California.
Have a healthy day, Keep the Faith!
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