$CHWY - Post Earnings Setup

$CHWY

I’ve written a few posts on CHWY 0.00%↑ , as it’s been a portfolio holding for quite some time (a disappointing one).

The stocks up over 25% after releasing earnings this morning. I’ll be much more constructive on this one if it can settle above the green shaded area around $22. Having said that, the price action today has taken it above it’s 200 day moving average, and using that as a stop-out level limits downside risk to just under 9%.

I like the alpha potential here if these conditions hold.