CHWY Long Term Outlook $CHWY D Time Frame update.... Completed 5 impulse waves up and came a few cents off my wave 5 target from previous analysis... Now with market volatility and uncertainty where do we go now? Stimulus is being passed to the house to finalize the package, If we do get the stimulus keep eyes on retail as consumer spendings should increase, which means .... more pet toys and pet products! CHWY is a strong online pet retail brand and has been doing well during this pandemic!
If you are a pet lover here are some other pet related stocks that you can invest in ($WOOF, $PAWZ, $TRUP, $PETS) ... $PAWZ is the ETF that has lots of great holdings that are pet related! CHWY is one of their top 5 holdings as well.
CHWY trade ideas
CHWY: Rising WedgeChwy has had quite a run up but now weakness is coming.
1) Weaker MACD signal on the run up
2) Bearish Wedge consolidaiton
3) Lower volume (confirming of a rising wedge)
Will face some headwinds amidst expected forward rising inflation which will reduce margins and push the profitability potential around in the future. Good time to exit long and start considering short.
CHWY Bullish Continuation from C&H CHWY has recently formed a cup and handle pattern near all time highs.
Broke through with the handle with exceptional volume, expect a continuation and push into high 120s possibly 130s
Chewy last issued its quarterly earnings results on December 7th, 2020. The reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The firm earned $1.78 billion during the quarter, compared to analysts' expectations of $1.73 billion. Its revenue for the quarter was up 44.9% on a year-over-year basis. Chewy has generated ($0.63) earnings per share over the last year.
$CHWY AlertA lot of great investments come from what we see around us everyday, as well as the volume in what we take in.
Evidently CHWY has been everywhere I look. Almost every other house has an empty CHWY box out front, not only AMZN anymore. Viewing from a more technical view on their 1D chart they seem to have broken through their ascending triangle. While they are seeking to set new highs we have been successful in achieving 70% + short term gains, I still believe there is a lot of long term potential here to be had.
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
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 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.