CHWY Bullish gap and go on a monthlyThat gap?!?! On a M chart.
Wow
I'm about it. And the daily 100/200 sma support the move?
I'm in bullish. Consider doing the same
CHWY
CHWY Chewy Options Ahead of EarningsIf you haven`t bought CHWY here:
or sold it here:
then Analyzing the options chain of CHWY Chewy prior to the earnings report this week,
I would consider purchasing the $29.5 strike price Puts with
an expiration date of 2023-6-2,
for a premium of approximately $1.29
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
CHWY - One of the best charts out there
Pricing crossed 60 VMA and 200 DMA in recent rally. +++
3D chart looks much better with price right on the volume shelf. ++
Recent volume could be better; suggests another pullback is possible --
Takeaway: Seems to building phase2 nicely. breakout should happen soon. Keep this on your watchlist and your portfolio for the long term.
CHWY Chewy Options Ahead Of EarningsIf you haven`t bought the all time low:
Then you should know that looking at the CHWY Chewy options chain ahead of earnings , i would buy the $43.5 strike price Puts with
2022-12-9 expiration date for about
$2.46 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
CHWY Huge Earnings SurpriseCHWY Chewy quarterly earnings of $0.04 per share vs Consensus Estimate of a loss of $0.12 per share. T
This represents an earnings surprise of 133.33%!!
Sales of $2.43 billion topping forecasts for $2.41 billion.
My price target is the $31 resistance for now.
Looking forward to read your opinion about it!
Can They Build Some Short Term Basing?As much as I want to be bullish on CHWY, I think it requires more and time price. Resistance is obviously at 31.95 and another upside level at 32.89 / 34.30. Downside remains the near support level at 31.34 and lower levels of 30.72, 30, and 29.20.
I'd be looking to see if the stock can begin to build on a base with large volume and continued higher closes from the prior close.
We will see how this plays out with the stock. Good thing for the company is they have outstanding service (as a customer) and pets will always require purchasing demands. But, like other retailers, CHWY has the hurdles of overhead, shipping, inventory, and much more.
I'll be watching to see how the price action revolves around the levels mentioned above. Just like healthcare; people will need to continue to feed their pets and acquire goods and services for them. So, how will economic conditions impact the purchasing power when it comes to 'finding the best deal'?
Patiently waiting on CHWYCHWY broke below longtime support and I am waiting to see if this level gets retested as resistance.
Going to be patient on this one and wait for a few green days and rejection off support level.
Ultimate target would be $22
Time to Buy CHWY 🐾 Yesterday Chewy (CHWY) 🐾 saw the largest volume in trading since the IPO in 2019.
It is firmly within the downtrending channel, bouncing off the bottom in fact, so if you order everything from pet toys to pet treats to kitty litter, this might be an area of interest to begin nibbling.
In this market, scaling into your position is the wisest thing a retail trader can do.
For example, if you plan on buying 100 shares total, start with increments of 10 or 20 shares on pullbacks until your position is complete.
*This strategy can be used for stock picking or options trading, yet beware of options premiums in this volatile market.
Good luck!
Zach B.
Multiple Bottom with potential to gain over 40%NYSE:CHWY
Forming multiple bottoms with potential to break trend line resistance, and hit 59 which is over 40%.
Analysts' mean target price @ $59.04.
96% Institutional ownership
CHWY triple bottom Looking at the chart, i would say we can see a regional triple bottom pattern on Chewy, Inc. (CHWY).
Goldman Sachs has a $59 price target while Royal Bank of Canada $77.
Looking forward to read your opinion about it.
CHWY long positionWe just finished Elliot wave with an ABC correction and WXY combination, we are thinking it's going to bounce off of a strong demand zone and retrace to 50 fib zone.
Entry: 38
Invalidation: 26
Target: 77
CHWY bullish options ahead of earningsYesterday Chewy, Inc. (CHWY) had a strange amount of options, 1.2K Puts and 10.2K Calls, many of them expiring soon,
2022-3-18, with a strike price of $70.
2 Week Range 36.69 - 97.74
yesterday the price was $42.04
On 1/27/2022 Royal Bank of Canada Initiated Coverage for Chewy, Inc. (CHWY) with an Outperform rating and a price target of $77.00.
I aim for the 52.60 resistance short term.
Looking forward to read your opinion about it.
$CHWY - Top of RangeNYSE:CHWY
$CHWY had an unimpeded run up 11.22% today (2/9/22), to rest just below the trend resistance of its broadening formation (the pattern is known for increased volatility and price action as long as price remains within the pattern).
I do show $51.04 as an important level of resistance, which after passing price flattened out, but did hold.
CPI data coming out tomorrow might be enough to push $CHWY higher, but I think it's more likely that the ticker continues to trade in its current pattern, dropping in the coming days with the $46.47 area as support, with a potential bounce to even $56.02 if the trend continues.
Options flow remains bearish, but slightly less so. I would assumed that traders are playing the broadening formation while it lasts.
$CHWY - Bullish Engulfing Signals Potential ReversalNYSE:CHWY
After a long downtrend, Chewy may have found it's bottom. Jan 24 gave a Bullish Engulfing candle at the $37.11 support.
RSI poking above 50 for the first time since late Nov '21. MACD curling. Buy volume has been increasing since early December '21.
Showing more buy volume and greater daily price action as price moves closer in an expanding pattern to the Aug '21 trend resistance. $51.04 and $56.35 are key levels to break, or a break outside the Aug '21 trend resistance. Otherwise this may be another bear flag in the downtrend.
RSI, MACD, high buy volume, and increase in price action make this a promising watch. It's also possible to see this rejected at resistance and form a double bottom before being able to break out.
Don't anticipate the move, but this is one to keep an eye on in the coming weeks.
E-Commerce! CHWY This pandemic is not going away anytime soon. I believe it is a lot like the flu in terms of length, and will be here for the long run. With this being said, this is scaring people from doing the things they used to love doing, such as shopping, going out for a night on the town, or even going to a basic dinner with some family/friends. This mindset has made the industry of E-Commerce go crazy in a positive way. People can do practically whatever they have to do nowadays, online. Buying food, drinks, and other things someone may need is available with one click of a button.
What is Chewy? Chewy Inc. is an American online retailer of pet food and other pet related products based in Dania Beach, Florida. In 2017, Chewy was acquired by PetSmart for $3.35 billion, which was the largest ever acquisition of an e-commerce business at the time! Why is this a good investment for a long term hold? * In 2020, pet ownership in the U.S. rose from 67% of households to an all-time high of 70%, wrote Steve King, president and CEO of the American Pet Products Association (APPA), in a preview of the association’s soon-to-be-released “2021-2022 APPA National Pet Owners Survey.” *
With this in mind, there are so many pet owners and the numbers seem to keep increasing, and I can tell you from EXPERIENCE being a proud dog owner myself, that majority of people spoil their pets JUST like kids, with good food, toys, bones, beds... all the good stuff. This is where Chewy will thrive. Through the pandemic as an E-Commerce company, Chewy has been demonstrating revenue growth, as well as an improving capital position. HOWEVER, they are still having trouble turning a profit the past few quarters due to the fact that their total assets pretty much exactly mirror their total liabilities. On the other hand, a positive thing to note is that their ** third quarter 2021 net sales of $2.21 billion demonstrated 24.1% year-over-year improvement, while the quarterly gross margin of 26.4% indicated year-over-year expansion of 90 basis points. ** That is good to see for bulls!
How will they overcome their lack of profitability? Chewy is looking to expand their business and to add more sources of revenue from more than just selling toys and food. They are looking to expand into the Pet Insurance industry. They recently announced a new partnership with Trupanion, a pet medical insurance provider, which hints at a big move coming. $$$$
If you are a risk tolerant investor, then this is a great pick for you! I have been an investor in this company since mid 2021, and have been following any news/moves by it the entire time. So if you have any questions, comments, concerns, feel free to reach out in the replies! Scared money makes NO money!
Chwy fib levelsChwy made it over the .886, and looking for a move higher today going into next week after it retests the .886*
*pending market conditions
Closed: CHWY January 21st 42 Short Put... for a .50 debit.
Comments: In for a 1.00 credit; out today via good until cancelled order to take profit at 50% max. .50 ($50) profit. 11.8% ROC as a function of buying power effect.
Opening (Margin): CHWY January 21st 42 Short Put... for a 1.00 credit.
Comments: Selling some 16 delta premium in CHWY post-earnings in the implied volatility afterglow (30-day is still currently at 66.9%). I considered short strangling it, but there's some skew to the call side with wonky five wides, so am just going bullish assumption on it instead.
Delta/theta: 15.79/3.03; 1.00 max profit on buying power effect of 4.22 (on margin): 23.7% ROC as a function of buying power effect; 11.8% ROC at 50% max.
CHEWYCHWY is creating a potential W pattern. Since May, price (when in this area) has retraced the previous high twice at least 38% of previous high. Although the previous high is lower than the one prior to that one, a price of $65.96 would be a retracement of 38% of its previous high.
