CHWY trade ideas
CHWY Acting Well at Key Moving AveragesCHWY continues to find support at the 10 and 20-day EMAs. The breakout on 01/13 failed to get going and likely shook out a lot of longs. Today looks like it may be trying to extend out from this consolidation. Really easy spot to put on a position and manage risk with the stop around $98. It's possible that this one moves slowly at first as it grinds through supply. Hoping we get a handle near the highs to add to my current position. Long
CHWY one last push? CHWY holding that support line nicely and bounced off 50 day EMA. Watching for a breakout of the downtrend for a clear reversal to retest ATH. Break of the support line this could be a nice short down to 94 under that I can see an overall move down to 87.
High Risk High Reward play
Playing options have a tight stop loss on this as its very overextended stock
Key Levels:
Support: 101.40, 98.60, 97, 94
Resistance: 104.20, 106.85, 110, 112
Waiting for a breakoutOriginal channel - white lines/ red divider
New uptrend - yellow lines
Breakout area - 107 .25 (greenline)
target - 114
CHWY trading in the channel and looking ready to breakoutEarning coming up soon, this should could move it can break out of descending channel. closed below 104.24 after trading above it during the day which is .618 fib retracement. 109.7, 115 are the levels to watch. 100 would be downside
Is Chewy Getting Ready for a Run?Pet supplier Chewy has been cooped up like a border collie in a kennel, but some technical patterns suggest it may run again soon.
CHWY doubled in value since mid-September, rallying out of a bullish ascending triangle. Its animal spirits took a nap around the “nice round number” of $100 in mid-December, and the stock has consolidated there since.
Bollinger Band Width has narrowed to the tightest level in 2-1/2 months, highlighting how rangebound it’s been.
Second, notice how CHWY recently wagged some tails under $100 but closed above it. Also notice that today it started to climb despite remaining $0.30 above $100. Is price saying good-bye to double digits?
Third is the large outside day on January 27. That’s when then bull(dog)s tried for a breakout, but were yanked back like a terrier on a leash. CHWY has tied up inside that candle since.
Finally, the 21-day exponential moving average (EMA) has provided support throughout this consolidation phase. That line is now over $100, which could squeeze prices higher.
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CHWY over 105.00Can ride e-commerce tailwinds from $AMZN and break out of this descending channel. Price action resistance is entry over psych level of 105.00.
CHWY Ready for Breakout?Ticker $CHWY is forming a bull flag and is looking like it’s ready to breakout. Could be a huge breakout and also might see attempts to reach ATHs again. Riding the 20 and 50 SMA well with volume starting to pick up nice. RSI looks great however MACD could see a slightly lower number before it makes a bullish crossover.
CHWY - January 31, 2021CHWY is getting tight forming this downtrend resistance. A strong breakout above this sets up nicely for a push to ATH this week.
CHWYCHWY, 1-2 Week Horizon
Price action is on its pullback move 3 quarters of the way down before touching channel support. There is a good chance that price action will continue lower around bottom channel support area and 61.8% fib before it pivots up for a bullish move.
MACD lines pointing down and stochastics pointing down but near oversold levels.
Stop loss just below buy zone and 93.62 area of support.
Disclaimer
I am not a registered investment advisor and do not offer investment advice and recommendation. All my post is not a recommendation, advise nor a suggestion and should not be used as a replacement for investment advice from a qualified licensed professional. All my post is for, information and entrainment purposes only. You, the reader, bear full responsibility for your own investment and trade decisions and should seek the advice of a qualified securities professional before making any investment or trade.
Chewy Lets see what happen todaytoday could be a decision day for direction
El dia de hoy nos dira cual sera la direaccion, con esto podremos tomar accion
Chewy- near support of upward channelIf the multi month channel holds, I think this heads back to $112 by Feb. I can’t commit to a higher PT at the moment given the major indices appearing overbought
CHWY Retrace to $90 (-13%)Consolidating under prior resistance for 5 days with a huge wick above the supply zone and a close below. Target last major support around $90.
CHWYFlagging on the daily? Been changing my indicators around lately. Truthfully, it doesn't really matter what indicators you use. Throw on RSI, stochrsi, macd, and some moving averages and call it a day. Don't waste hours looking for indicators...
Potential ShortThis is a great stock. I originally purchased it at $50 and got out at $70. I should have held this long-term. Looking for another opportunity to buy for long term but right now just temporary trading.
Chewy Held support. Might be a nice entryOpen up today at 93$ on top of the weekly channel(Whitelines) even with the market down big. Next target is 100$ (Greenline) pass that it should get fun with the double bottom.
