Golf's Comeback: A Good Walk, and Downtrend, Spoiled

Callaway Golf (ELY) is a much more focused way to play the resurgence of golf's popularity these days, largely tied to Tiger Woods, especially compared to Dick's Sporting Goods, which is suddenly in the news as a political hot-button issue. 

Tiger will be on full display in April at The Masters Tournament in Augusta, Georgia (a tradition unlike any other, as they say). 

In fact, as you can see here, ticket prices are "skyrocketing" this year for the event, as Tiger may very well be focused back on his career and stardom after a few years of embarrassing incidents and a general decrease in golf's popularity as a whole.

On the ELY monthly chart, below, you can see the name emerging from a multi-year base bottom. The daily chart also looks sound for bulls, with a move over $16 functioning as a likely trigger to usher in a new leg higher. 

"Golf is a good walk spoiled," is a famous quote attributed to Mark Twain, but may actually have pre-dated him. With that in mind, Callaway Golf may now be a good downtrend spoiled with Woods back on the scene in a major way.

Also note that golf stars have a much longer career life than, say, Michael Jordan in the NBA. In other words, if Tiger can revive his image and win some more majors, the upside for golf may be wildly bullish for ELY going forward.