Chewy is at a precarious place on the charts.
It has a indecision candle challenging resistance in the downward channel and the upperband of its vwap and a key level 32.45. In addition, it is facing the 50 EMA which is acting like its current nemesis. On the weekly Chart Chewy price is consolidating at a key level. On the hourly, we need momentum to lead the way. A strong breakout with HHs and HLs from the downward channel will be a good sign for the bulls.
It has a indecision candle challenging resistance in the downward channel and the upperband of its vwap and a key level 32.45. In addition, it is facing the 50 EMA which is acting like its current nemesis. On the weekly Chart Chewy price is consolidating at a key level. On the hourly, we need momentum to lead the way. A strong breakout with HHs and HLs from the downward channel will be a good sign for the bulls.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.