Chart of the Day: Chewy (CHWY)

: CHWY | Chewy, Inc.  News, Ratings, and Charts

CHWY – Chewy (CHWY) engages in the provision of pure-play e-commerce business. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

 

Chewy, Inc. engages in the provision of pure-play e-commerce business. It supplies pet medications, food, treats and other pet-health products and services for dogs, cats, fish, birds, small pets, horses, and reptiles. 

Take a look at the 1-year chart of Chewy (NYSE: CHWY) below with the added notations:

During that past couple of months, CHWY has formed an important resistance level around $52 (red), and another key level in the $46 (green) area. If the stock declines further, $46 could provide support, while a reversal and break above $52 could signal another leg higher.

The Tale of the Tape: CHWY has key levels at $52 and $46. A trader could enter a long position on a pullback down to $46, or a break above $52, with a stop placed under the level of entry. However, if traders are bearish on the stock, a short trade could be made on a break below the $46 mark.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT

@cmtstockcoach

Want More Great Investing Ideas?

9 “BUY THE DIP” Growth Stocks for 2020

Top 3 Investing Strategies for the Year Ahead

7 “Safe-Haven” Dividend Stocks for Turbulent Times


CHWY shares were trading at $50.26 per share on Wednesday morning, up $1.35 (+2.76%). Year-to-date, CHWY has gained 73.31%, versus a -2.77% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp, CMT


Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
CHWYGet RatingGet RatingGet Rating

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!


Most Popular Stories on StockNews.com


:  |  News, Ratings, and Charts

#1 Ingredient for Picking the Best Stocks

Most investors are looking at the wrong things during earnings season. This has them holding on to stocks likely to underperform. Instead they need to understand what TRULY matters from these announcements that helps zero in on the stocks primed to outperform the market (SPY) in the days and weeks ahead. Read on for the full story...

:  |  News, Ratings, and Charts

Is General Motors the Next Tesla?

GM is not only a value play...it is potentially an explosive growth stock given a massive investment in electric vehicles. Time to get on board General Motors shares before its too late. Read on for more...

:  |  News, Ratings, and Charts

2 Stocks That Could be Acquisition Targets in 2021: DropBox, Yelp

With the world's economy potentially entering an expansion stage, now may be the perfect time for bigger and stronger companies to exploit synergies by buying weaker companies that complement their businesses. Dropbox (DBX) and Yelp Inc. (YELP) are struggling with heightened competition in their respective industries and suffering consistent financial losses. Consequently, we think they could be potential targets for acquisitions this year. Let’s take a closer look.

:  |  News, Ratings, and Charts

3 "Strong Buy" Tech Stocks with PE Ratios Under 15

The optimism surrounding COVID-19 vaccine development and distribution has slowed the tech rally that powered the stock markets last year. However, increasing dependence on technology along with rising concerns regarding the efficiency of global vaccine deployment should keep this sector’s momentum going in 2021. Because some tech giants are currently facing regulatory scrutiny, and because most big tech companies are trading at sky-high valuations, we believe that betting on reasonably priced companies like Sony (SNE), HP (HPQ) and Amkor (AMKR) should generate significant returns.

:  |  News, Ratings, and Charts

2 Stocks That Could be Acquisition Targets in 2021: DropBox, Yelp

With the world's economy potentially entering an expansion stage, now may be the perfect time for bigger and stronger companies to exploit synergies by buying weaker companies that complement their businesses. Dropbox (DBX) and Yelp Inc. (YELP) are struggling with heightened competition in their respective industries and suffering consistent financial losses. Consequently, we think they could be potential targets for acquisitions this year. Let’s take a closer look.

Read More Stories

More Chewy, Inc. (CHWY) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CHWY News