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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. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:CHWYLong
by TradeStation
1
Bart Simpson stealing your Bitcoins Ever since i started with forex and crypto almost 2 years ago i was wondering what even is goin on ? In my early days i read every book i could get my hands on, always thinking the magical answer to trading must be somewhere hidden in those books. Edward Magee , Murphy, Voigt were definitely the good ones. Anyway. 95 % of all traders loose their money. And yet, here we are. Retail traders use all these lagging indicators, combining them, changing settings and interpreting things diffrently on all sort of timeframes. We use literally over 100 year old technical analyses to predict the future based on past price action? Doesnt that sound stupid to anyone? Tell that to your neighbour and watch the irritated look on his face. The best way to predict the price would be to manipulate it yourself. Of course this is already being done simply through the media. The Bitcoin price is choreographed through news. Good news always come in bulk as will bad news. Coincidence? No. We might aswell lower the opacity of our candlesticks to zero and trade on google trend searches for "bitcoin". More than 50 searches day for one week means we are in an uptrend. Wait till cointelegrah trashes bitcoin and buy the dip. While my tinfoil hat is already warming up, who is owning and funding cointelegraph? Sadly we are not all billionaires and can control the bigger picture ourself. But what about the small picture, how is the price manipulated on the 1minute to 4 hour timeframe? Nowadays you cant look on any chart without seeing Bart Simpson like modern art everywhere. But what is even going on? From my understanding whales go stop hunting. If the bigger trend is up, and we are trading around support a whale would love to squeeze the longs, triggering the stops to push the price a ittle lower, to then buy his crypto at a discount and start the pump. High frequency trading bots then create the illusion of a weak pullback, so noobs fomo in and pump the price even higher. With every stop hunt, pump, barting, the momentum gets weaker and weaker. At key resistence the whale decides that the price should go down and starts the short squeeze setup. If anyone has a better understanding i would like to hear a different theory.
BITMEX:XBT
by globalz11112