Chewy stock price forms a wedge, hits resistance at 200 EMA
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Chewy's stock price has surged by 145% over the past seven months, outperforming major US indices like the S&P 500 and Nasdaq 100. However, it is currently facing resistance at the 200 EMA.
January 04, 2025 | 9:00 pm
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Chewy's stock has seen a significant 145% increase over the past seven months, outperforming major indices. However, it is now encountering resistance at the 200 EMA, which could impact its short-term price movement.
The stock's impressive 145% rise indicates strong performance, but the resistance at the 200 EMA suggests potential challenges in maintaining this upward momentum. This could lead to a period of consolidation or a pullback, affecting short-term price movements.
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