CHGG trade ideas
CHGG Little handleLittle handle formed here on CHGG. At previous resistance, funny how that works out. Stalking.
Mapped this chart a while ago.Been following this fundamental chart to a T since it doesn't see the volume of other stocks. Love to see the following of this as we are seeing a fairly bullish triangle play out over the long term.
$78 Weekly Price TargetThis could be a great stock to pull a bullish option on this week as it has ran the bottom of this upward trend for a little while now and usually posts a very good Q4 Earnings. If all lines up here this is a pretty big moving pattern.
Another day another stock following predictions.still that sideways action. cant wait to see next earnings pump.
Initiated a long in CHGGlockdowns are coming soon. Of all the stay at home play I'm more confident with CHGG, due to its price right now.
Bought $60.00 strike call. 4/16/2021 expiration date.
UPDATE: Pattern Watch HereSeening a boost inbound.
If this stock seeing $70 again raise the flag and ride it up.
Great action on this one today.No purchases for me. Id love to see it follow the model that I am proposing so I would like to see it push upward before I full agree with my research.
$85 Target HereCHEGG kills every earnings call and when there is a big sell-off after a mostly positive earnings call you can see a history of this stock returning to dominance after the earnings buyers leave for the next couple months. This is a great lead company and consistently shows organization as well as targeted goals they are over-achieving.
I am always a buy on this stock. Especially a safe play right now. Does fluctuate more than most stocks due to being lower volume some times so this isn't guarenteed.
This week will be Cheggs big testWhile it is at the lower end of its upward trend channel, Chegg is hovering around the 50 MA line for support. This week we will know if Chegg moves up or drops further down for more support (62). Many believe that this still has much room to grow regardless of who wins the election and are also working to improve profit margins. It has already had a great rally this year and has been justified with more than 60% revenue growth. Long. RSI key level: 43
CHGG: Second Chance Before Blast Off to 130CHGG: Second Chance Before Blast Off to
Technicals:
uHd
BB%B oversold + BB 20,2nd standard deviation hit
61.8% fib supprt
March Covid-19 Trendline
Above 200 moving average
Long-term trendlnes sloping up
add around 68seems like the MMs are using this longterm trend line to reload on. thats where im looking for a entry right now on this one. Gl :) leave a like <3
Stocks to watch on Monday #4I think we already know that; the RSI level does not count much in a strong uptrend.
It can stay above the 70 RSI line longer than you think.
We can take Snapchat as a perfect example. Unfortunately, I sold them before the earnings report.
I am not saying that CHGG will also jump 40-50% on positive surprise, but in this case: we have to ignore the presence of the RSI indicator for a shorter period of time until the momentum weakens.
Trade safe and check my related ideas!
$CHGG Chegg weekly chart bullish into earnings
CHGG chart is quite bullish heading into earnings, with the
potential for a breakout to new highs.
Levels of Fibonacci as potential targets =
$97.00
$104- $106
CHGG: Buy at $89.92 Profit at $112.4Have you ever needed to buy textbooks for your college classes? Most likely you have went to Chegg.com to rent or buy a textbook but now Chegg is much more than a place to buy/sell textbook. It is a whole online service platform that can provide tutors, Scholarships, and even Internships that shows in the sales and earnings below:
Quarterly Sales
Sep19: +27%
Dec19: +31%
Mar20: +35%
Jun20: +63%
Quarterly Earnings
Sep19: +157%
Dec19: +40%
Mar20: +47%
Jun20:+ 61%
There is a great technical setup that is forming. Currently there is a Cup without a Handle but could easily form a handle in the coming week or so to shake out the last weak holder.
Enjoy the analysis. :)
For more information on Cup and Handle Analysis click here:
