CHWY is currently @ 79, 34% off it's recent high of 120. There is a one year Trendline Support looming up at 78 and the 200 day Moving Average at 75. Probably a good time to accumulate with a tight stop loss about $1 below 75.
As the moment is still weak at the moment with RSI trading below 40, a more conservative entry is to wait for it to go above today's candle high at 81.7 before staking.
Trail stops up should the trade work out!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
As the moment is still weak at the moment with RSI trading below 40, a more conservative entry is to wait for it to go above today's candle high at 81.7 before staking.
Trail stops up should the trade work out!
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
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.
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.