CHWY trade ideas
CHWY long Entry point at $56.82 with a target of $63.0 then evaluate again.
Above all my EMAs ( 5,10,21,50,65), looking for a increase of volume.
One of the COVID-19 winners.
fight to pick a sidecurrently CHWY is hanging around resistance, needs to make it above to then prove it as a support, would like to see above 60 and hold for uptrend continuation
Possible bullish breakout in $CHWYThinking Chewy could have a breakout similar to the one last month.
CHWY Defensive Bullish inclined - 18 Sep ExpiryCHWY is an online retailer of pet food. Since the start of the year is has generally been on a bullish uptrend. I picked CHWY as it's price movement seems pretty predictable and not very volatile.
Price has recently hit a nice high 52 week high and now seems to be in a range and testing that key 52 week high price point. I feel that there is a higher probability of it moving downwards, especially with it's RSI leaning towards the higher band of 60.
As my defensive trade is focused on picking off premium. As such I have made it bullish inclined with a Max gain at strike 70 and breakeven at 71.23. So the scenario I aim for is a bearish price that so that my contracts can just expiry worthless.
I'm worried as Tradingview has pegged earnings at 21 Sep, but other sources has it at 8 Sep/15 Sep. I only realised this after the trade was entered and TOS showed a different earnings date.
Defensive Profit $1333
Bought 18 Sep @ Strike 60 Calls +1, $2.7
Sold 18 Sep @ Strick 70 Calls -20, $0.81
BP block: 12k
OPENING (MARGIN): CHWY OCTOBER 16TH 47/105 SHORT STRANGLE... for a 4.02 credit.
Notes: As with the WORK play, selling the 16's. High 30-day at 118.7%. Will look to take profit at 50% max/adjust sides on approaching worthless or side test.
CHWY earnings expecting move upThis is based on my dowsing method and is for my own journaling purposes. I don't really follow this one stock, but I have been a customer!
I get a reversal up with a high at 10% up. It may have a break first and then reverse up, or just sell off into the close.
CHWY: possible reversalLook at this hammer!
Watching closely for possible reversal.
Additionally: earnings 10 september, possible run into earnings.
We will see.
CHWY retest of 52 level turning old resistance into new supportAfter a nice run up into new highs CHWY is retesting 52 level turning old resistance into new support. If you have been watching CHWY and didn't want to chase it this your chance to get in.
$CHWY almost tagged its #rectangle #chartPattern price targetNYSE:CHWY fell short of its rectangle price target by $0.40 cents. When you enter a trade, use your trade management skills to judge when to exist your trade. I posted about the breakout here.
CHWY - Breaking Through S/R - 9.66% Potential ProfitI would wait for the resistance line to turn into support and re-test, before placing an order.
- Historical uptrend.
- RSI + Stoch well above 50.
- MACD above Signal.
Target price $58.00
Suggested Entry $52.25
Suggested Stop Loss $51.3
Long to targets if it can hold in and above boxGapping up right now. Would like to see a pull back into top of box for long entry.
$CHWY Structure is your FriendJust "KISS"ing.
Keeping it simple stu***
At times its better to keep your chart clean and simple.
It allows you to eliminate the noise & identify the structure that has developed.
At the moment we are at the top of the structure aka resistance.
Since overall structure is upward, I choose not to short or long puts. However, active traders with a larger risk appetite may do so since its not illogical to short resistance.
Some possible plays below:
a) conservative play: take profits (if you're already in) and buy the dip at $46 (with a target at top of structure at $52)
b) medium risk: short this $52 level and cover at $46 (structure support)
c) High risk/high reward: Long $46 strike puts (ill leave expiry dates up to you)
Everyone has their own risk appetite, play what makes sense to you, cheers!
