CHGG trade ideas
Future of learning and education with $CHGGTA
-120EMA Support. High volume at $62 level.
- Early May 2020 shows double the volume from the previous highest volume day= Institutional accumulation. Average volume 2.8M. May 5th volume : 38.5M
- Distribution volume slowing down
- RSI reversal
- MACD golden cross
- Strong relative strength
FA,
- Integrated platform = Chegg study+ Chegg Writing+ Chegg Math solver + Chegg tutors + High quality future proof skills based courses
- Structural tailwind with e-learning/self-learning.
- Yahoo finance Growth rate : 25%+. Simply wall street growth rate : 68%
- FY15 to FY20 CAGR revenue 39%
- Accelerating Earnings, revenues and margins in consecutive quarters(Almost Code 33)
- Growing subscriber base= Network effect with more tutors and students
- High growth and high margin. FCF positive
- Good management
Current subscribers of 3.9M with 29% YoY growth. Total opportunity at 102M subscribers
- Baillie Gifford ownership : 11%. High quality fund ownership + Growing institutional ownership. #smartmoney
Concerns,
-Increased competition : Amazon, Khan Academy, Open study, Linkedin
- Physical textbooks are a thing of the past.
- Debt of 900M and interest coverage of 1.09. However, Cash is at 700M with a healthy current ratio of 8+
Added at $72.
CHGG Long Initially $70 was the price point of breakout but needed big volume. If volume picks up I would be interested in this LT
CHGG still has room to go, target in ballpark of 74Just to follow up on my chart yesterday, CHGG has pushed and is slightly overextended. Based on the previous history of CHGG with overextended MACD, there is potential room for 10% of upside, however, I have my target set around 74 for take profit. These are just my opinions, please trade at your own discretion. Copyright Rohan Karunaratne 2020
$CHGG Nice Wedge Here...I'm looking for $CHGG to break out of this wedging pattern and retake the 21 EMA. I'll be looking for a long entry on a decisive close over that level. This looks like one to keep an eye on. Ideas, not investing / trading advice.
CHGG very bullish
Online educational such as TWOU making a reversal.
CHGG made a bullish wedge, time to join the party.
1st target 90itch
Study from anywhere & go longAlthough there are other value study at home stocks like HMHC & LRN. CHGG is the only 1 with the momentum and versatility to work for every age group and benefit in 2020 & beyond. TA supports my point along with solid fundamentals.
*personal opinion = trade at own risk
BUY CHGG NOWthe line below is the length of a previous downtrend, which if any correlation would suggest that the current downtrend should end very soon. Other reason to believe this is that the fib level has been held very well and the falling wedge along it has limited time before making a move
"all the answers lay in the chart" - me
BUY CHGG DIPchgg will soon be a buy around 68$ for multiple reasons 1. The chart obviously. should see a completion of the retrace to the 38.2 after starting it and then rejecting to get back over it. Puts are an option until then but after 68 target will be around 100$. 2. the markets hopes for a covid vaccine in no way line up with the timeline that actual smart people are suggesting therefore online learning can persist well into the end of 2020 and into 2021. There is doubts that we can have a vaccine even by the start of next year, and on every college campus covid cases are spiking so chgg the best (maybe idk) virtual learning tool will continue to rack up growth. 3 the media has been very negative toward chgg so we are getting this on a discount where all the institutional WS crooks have driven the price down so they can load up again
Huge Price Target for CheggNYSE:CHGG
With students most likely sticking to a completely online course load this fall, CHEGG will be highly utilized for homework assignments and exam prep. I expect this stock to be close to a $200 stock by year end. First PT is $170.
CHEGG LongWait for the reversal and confirmation! Goodluck!
I am eyeing $100 calls for aug 21 and sep 18
liking Chegg into earnings, just dont like today extensionloving chegg for earnings play but todays movement makes it dangerous to add extra.
Target for good earning report 95-100
Next Breakout happening now Waiting for next huge breakout. Maybe happening now?! indicators show strong momentum coming up!
Please Like if Agree or leave opinion in comments. Thanks!
$CHGG Long Chegg Into Earnings $90 Target
Possible Long into earnings.
Upside target $90.00
Stop loss $77 below most recent resistance.
Indicators are all in very bullish trajectory.
COVID impact remains positive for this Company.
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CHGGChegg (CHGG) closed at an all time high today along a strong support. It is showing some resistance at around the $79.50 level, however with earnings on Monday 8/3, it may look to consolidate/run up pushing new levels. If it breaks 79.50, I am looking for a first price target at 82, and a second price target at 85. Previous two quarter ER's were misses, however last quarter's ER market reaction showed a gain of $22, and with a new ATH today CHGG may look to continue pushing upwards.
