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E-commerce Chewy Stock Flashes Renewed Technical Strength

When looking for the best stocks to buy and watch, focus on those with rising relative price strength.

One stock that fits that bill is Chewy (CHWY) stock, which had its Relative Strength (RS) Rating upgraded from 80 to 83 Wednesday.

When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength.

This exclusive rating from Investor’s Business Daily tracks price movement with a 1 (worst) to 99 (best) score. The score shows how a stock’s price performance over the last 52 weeks compares to all the other stocks in our database.

History shows that the stocks that go on to make the biggest gains typically have an 80 or higher RS Rating as they begin their biggest price moves.


See How IBD Helps You Make More Money In Stocks


Is Chewy Stock A Buy?

Chewy stock ran up to a 52-week high of 120 on  Feb. 16 after clearing a 70.82 buy point in a second-stage cup with handle. Since then, the stock has pulled back into wide and shallow consolidation base and out of proper buy range. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips. Also, check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”

 

 

Earnings growth increased in the company’s most recent report from 0% to 175%, but revenue fell from 51% to 32%. Look for the next report on or around Sep. 10.

Chewy stock holds the No. 10 rank among its peers in the Retail-Internet industry group. Ebay (EBAY) and Liquidity Services (LQDT) are also among the group’s highest-rated stocks. For more industry news, check out “Retail Industry News And Stocks To Watch.”

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