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Chewy, Inc.Chewy, Inc.Chewy, Inc.

Chewy, Inc.

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CHWY trade ideas

CHWY analysis CHWY has been on an uptrend for quite some time. As seen on friday, CHWY was able to continue rallying upward even when the SPY was down. Buyers are clearly in control with this pick. I believe that we still have room to run up to before we see a pullback, the blue box serves as a selling zone, to one of the strong support lines. We have a price prediction using the fib retracement where we look to test resistance, and VWAPS all indicating buyers are dominating the market. Any criticism is more than welcome.
NYSE:CHWY
by HNY42
1
Woah... Hello CHWY! What an absolute bullish baller! CHWY is overall up 160% in 2020, as it turned out to be a hot growth stock in 2020 thanks to the coronavirus pandemic that accelerated the shift toward online shopping for pet products. The company's revenue jumped 45% over the prior-year period to $1.78 billion, comfortably ahead of the $1.72 billion Wall Street estimate. Its gross margin increased 180 basis points year over year to 25.5%, helping the company reduce its adjusted net loss to $7.7 million during the quarter from $39.6 million a year ago. Investors are eager to jump in the CHWY train, especially with the help of the fantastic earnings report they recently gave. Price jumped exponentially to an all-time high as a result. I expect some natural retracement to occur. But just by looking at the overall chart on the 1D, the 50 MA has proven to be an excellent measurement of support. The plan is simple: patiently wait for retracement, and jump in as soon as it hits that 50 MA. Happy trading!
NYSE:CHWYLong
by tacosaucewalkin
2