Callaway Reset (Falling Wedge)Callaway Golf CompanyBATS:CALYreasonableFlam46485Hello 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