CHWY Rallies 2.96 Percent After Holding Key Support

$Chewy, Inc.(CHWY)$

CHWY Rallies +2.96%: Pet Retailer Bounces Off Support, $33.74 Breakout in Play

Latest Close Data

Closed at $33.74 (+2.96% / +$0.97), still -30.5% below its 52-week high of $48.62.

Core Market Drivers

The stock's bounce aligns with a broader market rotation into consumer discretionary names. Positive sentiment may be fueled by strong pet ownership trends and Chewy's consistent execution in a competitive e-commerce landscape.

Technical Analysis

Volume of 13.87M shares (Volume Ratio 1.78) confirms strong buying interest.
The MACD histogram turned positive (0.314), signaling building bullish momentum.
RSI(6) at 60.93 is approaching overbought territory but not yet extreme, indicating room for further upside.

Key Price Levels

Primary Support: $33.32 (recent swing low).
Immediate Pivot/Resistance: $33.82 (recent resistance).
Strong Resistance: $34.85 (today's high). A decisive break above $33.82 could open the path to test $35.

Valuation Perspective

P/E (TTM) of 69.37 is elevated, reflecting high growth expectations. However, the P/S ratio of 1.11 appears reasonable for an e-commerce leader, suggesting the market is pricing in future profitability.

Analyst Targets

22 analysts cover CHWY with an average price target of $45.79 (+35.7% upside). Sentiment is bullish, with 9 Strong Buy and 12 Buy ratings vs. 8 Holds.

Weekly Outlook

Expect consolidation near the $33.50-$34.00 zone. A sustained close above $33.82 this week could target $35.00. Failure to hold $33.32 support may lead to a retest of $32.50.

Risk Disclaimer

This analysis is for informational purposes only and not financial advice. Past performance is not indicative of future results. Trading involves risk, including the potential loss of principal. Conduct your own research before making any investment decisions.

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