ShakeShakeLeg
Long

Chewy is the Amazon.com for Pets!

NYSE:CHWY   CHEWY INC
** Comments and Likes are appreciated; Subscribers are pet lovers! **

What I see...
:: Stock went IPO 1 year ago
:: Formed a based for a good 6 months
+ Steady rise within channel since mid-March low
+ Peaked at $48 back in early April and pulled back to 0.618 Fib and has been bouncing in between fib for a month!
+ Last week prices bounced off of 50MA
+ Friday had a strong close above 10MA
+ RSI is at 66

- Fib is below signal bar
- 1st Resistance at high 47
- Vol. is on the low side
- Bollinger is wide

What I setup...
+ Long entry above channel high
- Stop under Friday's low
+ Target at 1.618 Fib
:: Duration - 2 to 3 weeks

Comments

Very detailed and well thought out. All points are valid.
Reply
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