CHWY trade ideas
$CHWY forming 2 month #Rectangle #ChartPattern #BreakoutNYSE:CHWY has been trading sideways for the last 2 months forming a rectangle chart pattern with strong resistance at $52.50. Price has tested that level 4 times recently and looking set to breakout to the upside. Once the breakout takes place, the stock will be trading at all time high (ATH).
#KeepItSimple
One more up?Very technical chart. Lets see if it goes one more time:)
Trade with care! - chartingfeed
CHWYKey lvl to hold is 45. Below that bearish down to the green order blocks. Above 45 HTF closes still ok.
iHS Breakout $CHWY breaking out of an inverse head and shoulder, now hopped over a volume cluster with Chikou finding Kumo support. Looks to be headed towards the Daily falling wedge resistance
CHWY : The wait is overLast three sessions were wonderful with effective volume.
Take your seat before the train leaves for the next stop ($65) ;).
Long Chewy!!!! Potential reversal $CHWY $AMZN $ PETSsee charts at www.tradingview.com
$CHWY
Entry 44.75
Stoploss 43.75
Target 1 46.50
Target 2 47.55
Why CHWY?
Chewy added a record 1.6 million net active customers in the first quarter, bringing total active customers to 15 million.
Looking ahead
In terms of guidance, the pet product retailer expects revenue in the second quarter to be in the range of $1.62 billion to $1.64 billion, which would represent growth of 40% to 42%. Full-year 2020 sales are forecast at $6.55 billion to $6.65 billion, with adjusted EBITDA to be around breakeven for the year. The Street is currently expecting just $6.41 billion in sales for 2020.
What is Chwy?
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 60,000 products from 2,000 partner brands. The company was founded in 2010 and is headquartered in Dania Beach, Florida. Chewy, Inc. is a subsidiary of PetSmart, Inc.
Called this out yesterday🚨🚨Fire callout once again following price action targets, technical indicators, and volume confirmations. Impeccable entries. 🔥🔥
CHWY side ways continuation patternCHWY - side ways continuation pattern. Wait for breakout on the upside of the rectangle ($52.14)
THE CHEWY CasesHey investors, CHEWY is in a compression zone, who is trying to break up his car could try to go back where he went up to get his highest.
Please LIKE & FOLLOW, thank you!
must wait for the breakoutwill grab some in the money calls on this when it breaks the top line, need to be patient so time decay doesnt kill you, goodluck
$CHWY - Continuation Diamond$CHWY
UPDATE after flag proved to be extremely bullish.
Will use the upper fib level of $47.50 as next level of support and $44 below that.
We can make the argument that a continuation diamond pattern has emerged. I would set an alert to buy if it reaches $52 as the next breakout leg is pointing to $59
I remain bullish on $CHWY.
CHWY52 is a tough level. I would wait for CHWY to break and hold over 52 to go long. I would use a tight stop loss if CHWY breaks under 52.
If CHWY fails at 47.55 it can fall to 45.70, 43.89.
I would go long over 52, or go short under 50, or you can wait for it to break under 47.55.
*There was lots of Bullish Flow on Friday.
