Chewy’s Stock Price (CHWY) Tests Resistance Ahead of Earnings: What to Expect
Chewy Inc. (NYSE: CHWY) is currently trading at $35.26 per share, 1.21% higher in the pre-market, ahead of earnings. Markets are keenly watching the resistance level of $35 ahead of the print, to see how CHWY reacts.
The Street is looking for Chewy to report an EPS of $0.30 on the quarter, a 50% increase compared to the same quarter last year ($0.20). Revenue is expected to reach $3.1 billion, representing a 7.6% year-over-year growth rate.
Currently, the stock is trading below both the 50-day SMA ($35.56), and the 200-day SMA ($37.55), suggesting bearish momentum on the short to medium term. Looking again at the 1 year chart above and it is clear to see why, with Chewy’s stock having fallen 27.7% from the highs in early June.
The…
