CHWY reversalCHWY is set to make a move back to the upside. Closed above a resistance level today, RSI has curled upwards, MACD should turn green early next week. PT is $78-80 EOW.
CHWY
CHWY Multi Time Frame Analysis Price Target 94.32 🎯
Multi Time Frame Analysis on Chart
Entry on Break of 77 with Confirmation
Risk/Reward: 4.95
Invalidated below 73.50 ❌
CHEWY tumble, potential low entryChewy took a tumble on it's negative earnings, providing a possible entry point on support and fib confluence.
CHWY to 100 before earnings - dips are a buyNYSE:CHWY
Still seeing strong momentum on the daily and 2H. Sub 90's are nice dip buys. Should see a quick rip to 100 once it breaks supply at 92.
Invalidation will be below demand zone.
Great setupNYSE:CHWY
Pretty clean looking setup. Broke & backtested trend coming into res for a double top while clearing alot of vol nodes. Might pull back a bit before the launch but this looks like its going to make a move much higher. Plan on taking some Aug monthlies!
CHWY continuation 90 break -> highsInv H&S in 75-88 range... 88 breakout level 90->92.60 break-> retest ATH
CHWY. Long. Complete SetupCHWY is showing a 90 USD target on the short-term. An inverted-hammer on 4H and 1W doji - reversal bullish MACD shows us a huge potential.
CHWY Post ER Run?CHWY Daily TF
Broke the downtrend and forming nice channel up. Trading above the 20/50 day ema. Ideally would like to see a a dip to 75-76 retesting bottom channel line for a dip entry but break of 81 looking at 86.
Targets: 81,86, 93
Watchlist for the week of june 1-4Stock options watchlist for the week brought to you by Nexus Investments
CHWY safe haven if June dip happensHello everyone!
Today I am looking at CHWY and all I am definitely seeing a potential long here.
Whos is Chewy?
Chewy, Inc., together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications. It offers approximately 70,000 products from 2,500 partner brands. The company was founded in 2010 and is headquartered in Dania Beach, Florida. Chewy, Inc. is a subsidiary of PetSmart, Inc.
Why should you long Chewy?
In my opinion, the management and company spirit is what you should be looking at here. Chewy has singled itself out as one of the most customer friendly pet stores, and has recently suffered a slight dip. Looking at this from a fundamental point of view, it is one of the most promising companies, enjoying amazing growth throughout the pandemic and establishing itself as a staple in the pet food market. It differentiates itself from Amazon and other retailers with the aforementioned warmth towards the customer.
Looking at this from an technical point of view, I see an inverted H&S formed at the end of the dip, and I feel this is confirmed strongly by recent growth. I think growth back towards ~85$ is very much possible here. Keep in mind that at the time of writing, the stock is still at the lowest point it's been in the last 6 months, with a good bullish reversal already confirmed!
On an ending note, I want to say that this might be a safe haven in case the market suffers a dip in June, because of its powerful growth potential and inertia of the bounce. Good luck and make some money!
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 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 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.
CHWY Great Trade setup! Bearish Rectangular Great setup forming for a trade on CHEWY. Its currently trading in a bearish rectangular pattern and could have a breakout soon.
Stoploss should be above resistance if going short or below support if taking a long position.
Hope this chart pattern helped!
CHWY inside week breakout longChewy is related to 2 of my major focus in 2021:
1. Pet stocks
2. GME
and here we got this inside week, if it's able to break to the upside,
I'm willing to establish some long positions.
Let's see how it goes!
NEW POSITION $CHWY Target 106.53 for 22.94% Or double at 66.77$CHWY Target 106.53 for 22.94%
Or double down at 66.77
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
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: 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.
