CHWY trade ideas
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!
$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) ;).
