Falling Wedge- Bullish
Updated
CHWY really catching eye here, big falling wedge on the daily timeframe and finally starting to break out of a long downtrend it has been holding for quite some time. Bullish and will be looking for a breakout from this wedge- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime
- Reclaimed the 50-day EMA and seemingly looks like it will reclaim the 100 and 200-day EMA's as well
- EMA's all starting to curl upwards as well
- Gap fill on the upside
- Buyer volume picking back up relative to seller volume - Finally not hovering in oversold territory
- Inverse head and shoulders formed on shorter timeframes (Not Pictured)
PT1- $75.89
PT2- $77.94
PT3- $79.38
PT4- $80.53 + Gap Fill
- Reclaimed the 50-day EMA and seemingly looks like it will reclaim the 100 and 200-day EMA's as well
- EMA's all starting to curl upwards as well
- Gap fill on the upside
- Buyer volume picking back up relative to seller volume - Finally not hovering in oversold territory
- Inverse head and shoulders formed on shorter timeframes (Not Pictured)
PT1- $75.89
PT2- $77.94
PT3- $79.38
PT4- $80.53 + Gap Fill
Note
PT1 Reached ✅Note
All Price Targets Reached ✅
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