CHWY trade ideas
CHWY bottoming$CHWY looks to have found a bottom here. My target is 108 (the 78% Fib retracement). $CHWY has proven to absorb its pullbacks quickly in the past. The stock is also heavily undervalued, trading at half its enterprise value with positive free cash flow and P/R and P/S under 5. This stock is a strong buy for me right now.
$CHWY Update/ Early entries only 💲Fridays 1.272 ext entry at 63$ is Holding up, we have a daily ib forming at trigger w a pin bar, watch for break of todays high (if inside bar holds up) We are long from 63 (butterfly trigger)
Perfect Descending Triangle Setup $CHWYTextbook Bearish Descending Triangle I posted about 5 days ago, I was bearish on the stock after price fell bellow the 200 EMA and formed the bearish descending triangle that is drawn out. It reached new lows today and could continue to drop into tomorrow.
More downside expectedThe correction isn't over yet. Broke the long term support. Any weakness further will drop this to 50's.
CHWY Longopened trade @83.99
TP1: US115 (38% profit)
SL: US74.86
R/B: 1 to 4
Fundamentals to consider: "Surging Earnings Estimates Signal Upside for Chewy (CHWY) Stock" - Zacks Equity Research
CHWY Target ReachedPosted a chart on CHWY yesterday, I bought May 14th puts on CHWY yesterday after it broke through a bearish descending triangle pattern and the price fell below the 200 EMA.
Target of roughly $70 was reached today an hour before the market closed. I closed most of my positions this morning and held a couple for some nice profits.
CHWY Downtrend BreakoutDownTrend Breakout
We recently dropped below an important level of support;
volume increasing drastically, no support for a while.
Seems like a no-brainer play, but then again the market is unpredictable.
First target is 70.30
Currently in CHWY 72.5 put 5/14 @ 1.49
CHWY Bearish Descending TriangleBearish on CHWY after it dropped below the Red 200 EMA and formed this bearish descending triangle pattern, my price target is roughly $70.
I bought May 7th $74 puts and May 14th $73 puts.
$CHWYHas a double top on the daily on a consolidation range.
Options: would get an exp date of at least 7-10 days.(AT-LEAST)
CHWY Short Term IdeaCHWY is forming a descending triangle pattern on daily chart, which gives us some short term plays that we can possibly profit from.
Currently sitting on some support, looking to clear the volume shelf and enter @ 77.75.
The plan is to ride through the breakout area up to ~ 78.77 before hitting the resistance coming from the downtrend line.
This is looking to be a scalp play and could happen relatively fast. Keep a stop loss just under the low of recent candle on 30 min chart.
Looking good for $CHWYThis is a play I actually entered into about a week ago pre-earnings. Price jumped after having their first profitable quarter and their financials look great. Prices pulled back as expected because the market is f'd up like that and these past few days have presented a second-round buying opportunity. It went from overpriced at $120 with a fair value of $80-$90 down to that range and should return to the mean $90-$100 range soon. Also looking for a cross on the hourly macd which historically has been a good indicator for CHWY. The 4hr macd does not look as hot so do keep that in mind, however with less price history on a stock I tend to find it not as powerful.
Entry: $78.66
TP: $97-130
May enter into a long-term position after getting to these levels because this is a great company and as long as Amazon doesn't go to full out war with them should be profitable every quarter within the next year.
Chwy heading to 90 - strong momentumSee the graph, indicators looks great we are looking to get a few more points over the next trading days.
CHWY - AccumulateCHWY has been hovering around it's trendline since 5 March. It gapped up strongly after earnings on 31 March but soon gave back all the gains and trading sidways for the past week after gap close. Meanwhile, RSI has been slowly trending up towards 50. We are likely to see sustainable upside once RSI is able to cross above 50.
Long with initial stop loss @ 77.80 (about $1 below the trendline). May look to scale out partially between 95-98 shoud trade goes out way and ride the rest up with trailing stops.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
CHWY Analysis $CHWY | #Analysis | #StockMarket
Price Target 104.21 🎯
Symmetrical Triangle ✅
Bullish Engulfing Outside Bar with Volume ✅
Trend Reversal and Break of Clouds over 85 ✅
Break over 0.5 Fib (82.88)
Entry on Break of 87 with Confirmation ✅
Invalidated below 79.50 ❌
Let's Short some Meme Stocks: CHWYI don't care what your fundamentals take is on this company, but this chart looks ugly, and we've failed our 90 day channel and also failed on backtests. Short with confidence. Let the computer do the work for you.
$CHWY long idea$CHWY retraced to golden pocket after last movement upward, retested S/D area twice rejecting it making me think that the uptrend is not over. Weekly chart looks even better. I like entry here for a swing and I will average down if we go lower. Daily close below 72 invalidates the idea. For options, buy at least two month expiration.
Chewy— chew itChewy is showing good strength on 4 hour chart, with its amazing earning it is ready to fly
$CHWY with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CHWY after a Positive over reaction following its earnings release placing the stock in drift B
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Chewy Pet Supplies looking interesting after earnings.The pet supplies space was particularly bullish last year with everyone staying home because of Covid and pampering their pets so I have a few of them on some of my watch lists.
Chewy has had quite a big pullback, but yesterday their earnings (or rather how much they were losing) came in better than expected and saw buyers move back in.
OBV has broken up through its MA 14, and RSI has crossed back above 40. Both signs that a bit of a recovery might be underway. Its been hovering around its support area for a while without falling back through it, so would seem a lower level of risk if you wanted to take a punt.
Might be worth a look.
Chewy- lets chew itChewy has been consolidating since its fall from highs. Market has given 3 chances to buy at around 79 , there is huge selling at 87 level. But with earning coming up and divergence on rsi thing chewy will run soon.
Purely technical analysis
Trade at your own risk ideas are only for entertainment
Best strategy to deploy- a put butterly near 79 level , la put credit spread , long call around 78 79.
