Please watch the video on my analysis of $NYSE:CHWY! I explain why I think that this stock is going up! As always, thank you for tuning in to my analysis. I pray you all have a beautiful rest of your thanksgiving!
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Noteworthy bullish options activity in $CHWY 51c for 6/26 with some small put protection coming in later in the day. Fibonacci bb setup with bullish engulfing daily candle, post ER profit taking CHWY is a strong brand, ppl love the service... Targeting 51+ for next week, possibly eow Enjoy... Trade at your own risk. I took 20 contracts will update trade later.
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.