CHWY saw some unusual options activity yesterday as it was sitting on major trendline support. It popped hard into close, breaking above its short term downtrend. Today it opened above that trendline and held all day. This could get a lot of momentum and head back up to $30 pretty easily. That'd be my first target, but it has potential to keep going.
Note
This worked great, got out on the spike this morning. It may continue, especially with RTY strength, but I'm good on it. Hit a 6% move.
You reap what you sow.
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Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.