Yeti Stock Flashing Historically Bullish Signal

YETI has been slipping since its recent 52-week high

Deputy Editor
Sep 28, 2023 at 2:36 PM
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On the charts, Yeti Holdings Inc (NYSE:YETI) has been chopping lower since its Sept. 1 52-week high of $51.27. The stock's most recent pullback was captured by its 50-day moving average. This have led to an attractive entry point for YETI, too, as this trendline has been historically bullish in the past. 

According to Schaeffer's Senior Quantitative Analyst Rocky White, Yeti stock has come within one standard deviation of its 50-day moving average four times in the past three years. YETI was higher after three of these instances, averaging a 7.5% gain. It's also worth noting that short interest represents 13.6% of the stock's available float -- plenty of pent-up buying power that could push the equity higher. 

Yeti Sep28

An unwinding of pessimism in the options pits could provide tailwinds as well. YETI's 50-day put/call volume ratio of 1.23 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 90% of readings from the past year. 

Plus, now looks like a good time to weigh in with options. The stock's Schaeffer's Volatility Index (SVI) of 38% stands higher than just 13% of readings in its annual range, implying options players are pricing in low volatility expectations.  

 

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