Watching CHWY for a test of the resistance in the 35.50 area. Best case scenario for the bulls would be an initial rejection to form a daily higher low off of daily EMA supports and then a weekly breakout, having us look back to all time highs.
That said, bulls remain in full control as long as the hourly uptrend remains in tact.
That said, bulls remain in full control as long as the hourly uptrend remains in tact.
Note
Another rejection from this area, this one at 34.90, makes the resistance area very clear. It will be notable when we break above all these levels on big bullish volume, and I'll be sure to play a part in that momentum shift. Keep your eye on this chart!
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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.