CHWY trade ideas
$CHWY Retesting to break $80EMA clouds turned bullish after a long consolidation. today touched pivot $80 and fallen back on support now trying to break it again. $80 and $85 first target.
-:ABHI_BING4ALL
Long chewy at $75.25 BreakChewy has a confirmed uptrend on the daily timeframe. I will be looking for a break and retest of $75.25 to enter my position. Potential Targets shown. My stop would be at $73.80
Falling Wedge- BullishCHWY really catching eye here, big falling wedge on the daily timeframe and finally starting to break out of a long downtrend it has been holding for quite some time. Bullish and will be looking for a breakout from this wedge- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime
- Reclaimed the 50-day EMA and seemingly looks like it will reclaim the 100 and 200-day EMA's as well
- EMA's all starting to curl upwards as well
- Gap fill on the upside
- Buyer volume picking back up relative to seller volume - Finally not hovering in oversold territory
- Inverse head and shoulders formed on shorter timeframes (Not Pictured)
PT1- $75.89
PT2- $77.94
PT3- $79.38
PT4- $80.53 + Gap Fill
CHWY - Reverse Head and Shoulder patternCHWY - Forming the reverse head and shoulder pattern
Breaking above the resistance will fill up the gap highlighted in the chart
$CHWY Bottom Curl Looking to Gap Fill UpwardsIf Chewy can break $76.50 with volume, it can gap fill back up to $86.50. Unusual option alert for Nov 19 $72 Call Sweeps, 156 @ $3.61.
JICPT| patience pays off for Chewy-uptrend confirmedHello everyone. I've published an idea titled 'Chewy bounced back from range bottom!' in early Oct. I mentioned some buyers jumped in around the weekly range bottom, yet the downtrend has not been terminated.
The pivot low got violated in the following days, however, price formed bullish engulfing + inside bar pattern shortly after the violation. The reversal turned to be likely in that situation.
It went as expected. Patience finally pay offs. It's clearly on the chart that candle formed typical uptrend pattern (higher high and higher low).
The short-term target is around $75, confluence with flip and 61.8% fib . Potential pullback entry level is around $65 if market gives us the opportunity.
What do you think? Give me a like if you're with me.
CHWY LONG 70Broke the downtrend & continuing with the uptrend now on daily & weekly chart. Touched the $70 couple of times & couldn't breakout because of weak market. Would like to see this go back to $70 & breakout in the next couple of weeks.
QuickTrade : CHWYBullish cross of the Hourly 21+50 going out of a new low.
RSI above the average
Long positions with stop at 62.5 / 63.5
Target 73.5 / 74
CHWY: Bearish Flag (Bull Trap)-Great earnings performance by CHWY
-Those who missed profit taking on the wedge will probably seek to do it now
-Some consolidation is happening today (strong rally in the post session, weakness in the intraday)
Tech is kind of finicky so maybe a stop in the low/mid 90s so as not to get stopped out on volatility
CHWYCHWY finished Elliott wave, now start for new uptrend after oversold.
Mktcap $26.54B
Price $63.53
Target $83.50/ 97.74
Stop loss $59.42
IMO
CHEWY MAJOR BULLISH DIVERGENCE!!4HR Time frame shows Bulllish divergence into major demand Zone .
Fundamentals for this company are nice, nothing but nice accumulation by the big boys.
1st Target $73, lock in profit right there and ride out the rest
Patience Pays and I am 100% expecting a huge run from CHEWY going into the end of the month. Option IV is dirt cheap, this will be the next big play. I trade the naked chart just using supply and demand zones.
2 years if experience in the market. I believe tops and bottom are shown by divergences. Not Rand candles and Elliot /Fibs counts
JICPT| Chewy bounced back from range bottom! Hello everyone. It's been a while since I published idea of Chewy. The disappointed Q2 earning and Q3 forecast undermined the bullish momentum. It didn't hit the $120 original target, instead it broke $77, the key 61.8% fib retracement with a quick retest and fell all the way down to the previous low of $64.
On the weekly chart, it's around the range bottom which is supposed to be a reversal level if buyers continue to jump in.
On the daily chart, we can clearly see that the red downtrend line has been respected for quite a while. The recent bullish formation is a good start, however the bullish trend has not yet been established. I'm expecting a double try in the next 3-5 days. By then, it could be a good place to load.
By the way, Chewy has dropped by more than 30% since the Q2 earning report? Do you think the valuation become attractive?
Give me a like if you think this post is useful. Thanks for your support.
$CHWY ready to rock$chwy your mom loves it, your dog loves it, and right now banks and hedge funds love it. #chwy is just primed, this weekly chart shows a wedge formation, just above the decade VWAP, last time Chewy touched that it rose 30% in one month. You will not get it cheaper unless the announce they are going out of business, absolute bottom is 65.55, it's been hammered by the big boys and now it's time to load up. I am so long and very bullish. Not financial advice risks are your own.
beautiful short play on CHWYBeautiful short on CHWY. if this was played on the time that I mentioned it on trading view, Depending on your option we should be up 140% if closed at $68. Now i will be looking for a potential reversal to the upside. I believe we might hit 64 first before then but would not be suprised if it reverses from here. for now just watching until I see a clear reversal.
CHWY bearish?Death cross might confirm this bearish flag set up. A break below this formation can confirm that CHWY might see the 60s again.
$chwy looks good for breakdown retestChewy has been getting decimated and appears to be looking for either a primary wave 2 bottom, or we are still in complex correction mode looking for a cycle II bottom.
Either way I believe there is going to be a retest of the breakdown and we should rally back into the 80s. Chewy looked strong to close out the week even as the market flushed. The weekly candlestick is also showing signs of reversal and closed just above where it needed to.
How to trade this: Bulls: BTD's above 73 a share. Take profits quick on the rallies. If the selling on this name is strong then it will not get to actually touch the breakdown trend line (could still get close but the shorts will begin selling likely around the 30 week MA, 79-80 a share). Stop loss: weekly close beneath the 1.618 (73)
Bears: short the rally as it nears the breakdown / 30 week MA. Stop loss above MA or breakdown line, depends on your risk tolerance.
CHWY reversalCHWY is set to make a move back to the upside. Closed above a resistance level today, RSI has curled upwards, MACD should turn green early next week. PT is $78-80 EOW.
JICPT| Chewy tumbled on disappointed Q2 earing & Q3 forecastHello everyone. This is a follow-up post of Chewy that I published two weeks ago. Actually, price reached 97.76, but missed my target 1 of $100 due to disappointed Q2 earning report. The less-than-expected data made the stock gapped down almost 10% at $79.31.
Now, the stock has come to the 61.8% fib retracement. We need to see how price will react to this level early next week. If it's violated, price tends to fall to the bottom of the range on the weekly(64-66).
Let' look at the fundamental part of the company. According to the CEO, Sumit Singh who is really bullish on the company's future, said that Chewy’s net sales per active customer was $404, up 13.5% compared with the same period last year and active customers of 20.1 million in the second quarter was 21.1% higher than in the second quarter in 2020. That info tells us that more customers who spend more.
Will you buy it?
Back to the trade management, sometimes we do have good setups, but it missed our target a bit before going against us. It hurts traders a lot. No matter how skillful you're, it just inevitable. But what we can do is trail stops and watch for the possible dangerous sign. Take this one as an example, if you look at the daily chart, you probably notice that price failed to challenge previous high of 97.76 before the earing report. It created a lower high structure indicating momentum is losing. That probably means somebody already knew the data and they tried to front run before everybody knows. That made the price fall from 97.76 to 86ish.
Another sign is price closed below the black dash line which separated the uptrend channel by half.
Risk management is key to trading business . Don't be too greedy. If you smell something is not right before key data announcement. Just get out to protect your principal and profit.
