$CHWY is a speculative buy. We are labelling it as speculative because of all the unicorns that have IPO'd this year and have performed horribly. However, a number of people are coming out and saying that the stock is interesting, including Whitney Tilson and Credit Suisse.
Credit Suisse thinks Chewy's (NYSE:CHWY) revenue momentum will translate into...
CHWY has been rallying out of the 21-22 area over the past few weeks as the 6-month lock-up period expires on 12/18/2019. The near term target zone is in the 29-30 area.
Happy Trading!
EARNINGS:
It's a fairly light week for earnings, but there is some highly liquid underlyings to play for volatility contraction:
CHWY (--/74): Monday, After Market Close.
LULU (64/42): Wednesday After Market Close.
COST (44/23): Thursday, After Market Close.
ORCL (42/26): Thursday, After Market Close.
Pictured here is a CHWY January 17th 21 short put at the 20...
CHWY touched its previous all time low today, which is now support at the $22.5 level. End of day it bounced off that level creating a doji candle stick, signaling a change in price direction. I entered in at 22.65 and looking for a target price at the $24-24.5 level, where it will then catch up and run into moving average resistance. Looking for a 5-8% bounce.
The chart may not be extremely bullish but we think it offers a good risk reward long into earnings.
It has not been a disastrous IPO for CHWY with reasonable stability in the stock price.
Currently sitting at the bottom of a well defined channel, we think the next move is up.
Folks love their pets and spending is set to soar in the coming years, CHWY also...
CHWY’s innovation outlook is neutral based on a current score of 29 out of 99, underperforming sector average. Insiders sentiment is positive.
For more analysis and articles visit our website.
Watching CHWY for a test of the resistance in the 35.50 area. Best case scenario for the bulls would be an initial rejection to form a daily higher low off of daily EMA supports and then a weekly breakout, having us look back to all time highs.
That said, bulls remain in full control as long as the hourly uptrend remains in tact.
Fat support around 30.8ish. Have to wait and see how does this move on Monday morning. I am personally expecting a pullback which could extend all the way to the resistance line, slightly bullish overall.
Chewy missed analyst earnings estimates by 1 cent per share, but posted good year-over-year improvement. It's down a lot today, but has support around 31 and could rebound from there. Below the previous low of 30.81 would be a good spot for a stop loss.
Chewy made a downward triangle breakout and will consolidate for a little while. It should find some support at this price level, which in the short time since its IPO has been a fairly high volume level. However, Chewy's fundamentals don't check out. It's an unprofitable company and doesn't appear to be making progress toward profitability. It may breach support...
Chewy, Inc. operates as a web-based, pet supplies e-tailer. The company is an online source for a wide variety of pet products, supplies and prescriptions for dogs, cats, fish, birds, small pets, horses, and reptiles. It serves its customers through its retail website, www.chewy.com, and its mobile applications. The company was founded by Ryan Cohen and Michael Day in September 2011 and is headquartered in Dania Beach, FL.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
CHWY
