Today(01 Jun) Stock Pick From A.I. model - Chewy, Inc. (CHWY)
Today (01 June 2023) the premarket futures is mixed, as investors might be still concerned that rate hike might be coming back.
BoA has arguably mentioned that these 3 conditions are met.
strong economic data,
an increase in the debt ceiling, and
subdued regional bank stress
Here is the today’s stock pick by A.I.
We have $Chewy, Inc.(CHWY)$ as they have reported a surprise profit of 20 cents a share, beating estimates for a loss of 4 cents a share.
I would look at target Entry Price to be around $33-$33.50, if it goes below $33 I will check Bear strength , if go above $34.50 and maintain, CHWY could be headed above $36.
Chewy, Inc. (CHWY) Technical Indicators
Chewy, Inc. (CHWY) Relative Strength Index (RSI) is 37.70, creating a Neutral signal.
Chewy, Inc. (CHWY) Trend Strength Indicator (ADX) is 18.87, creating a Buy signal.
Chewy, Inc. (CHWY) Commodity Channel Index (CCI) is -132.91, creating a Buy signal.
Do take cautious in trading stocks that has risen on news, this might be a short term surge.
I will monitor closely how it will be trading 1-2 hours in premarket before actual trading starts at 9.30am(EST).
Appreciate if you could share your thoughts in the comment section how would you be trading today?
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Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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