Adams Golf (NASDAQ:ADGF): Showing Positive Technical Picture
Starting in mid July the price of Adams made an important bottom, and if you are a technician you look for signals in price action, volume and pattern recognition. Golf sales at companies like Adams probably are a good indicator if you are monitoring consumer demand for the general economy. Adams has about $1 in cash on the balance sheets and is trading under book value current based on my calculations so I am keeping an eye on them.
Adams Golf, Inc., through its subsidiaries, engages in the design, assembly, marketing, and distribution of golf clubs and accessories for various skill levels in the United States. The companys products include the Idea a3 and a3 OS I-woods and irons, the Tight Lies family of fairway woods, and the Puglielli series of wedges. The companys products also comprise Idea a7 and a7 OS irons and hybrids, Speedline Fast 10 and Speedline 9032 drivers, Speedline Fast 10 hybrid fairway woods, Idea Pro Black I-woods and irons, Idea Tech a4 and a4 OS I-woods and irons, Idea Pro Gold I-woods and irons, and Insight Tech a4 and a4 OS drivers and hybrid-fairway woods. It also offers the Tom Watson signature wedges and the Puglielli wedges; and a line of golf bags, hats, and other accessories. Adams Golf, Inc. sells its products through golf shops, sporting goods retailers, and mass merchants, as well as through international distributors in Europe, Canada, South Africa, Japan, and other Asian regions. The company was founded in 1987 and is based in Plano, Texas.
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