Why I believe Chewy will go up soon.

First and foremost, Tech seems to be recovering which is always great news but it’s important to be cautious.

I personally have never traded CHWY so I am not completely sure how it plays. However, Chewy inc. had recently reviewed an upgrade to switch from a hold to a buy. This will attract many new investors to the stock. Furthermore, there is a very clear cup and handle formation occurring which signals a strong bullish pattern. Although we can not completely base our analysis on just these two factors, they call for CHWY to be watched very closely in the coming days.

Please keep in mind that this is strictly my analysis and opinion. Financial actions should not be based solely upon the opinions of this one article. Please read my disclaimer for further information.