On Tuesday, Chewy Cl A hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 89 the day before.
IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the last 52 weeks matches up against the rest of the market.
History reveals that the best-performing stocks often have an RS Rating of at least 80 at the beginning of a new price run.
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Chewy Cl A is now considered extended and out of buy range after clearing a 24.17 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While sales growth fell last quarter from 4% to 3%, EPS grew 55%, up from 13% in the prior report.
The company holds the No. 10 rank among its peers in the Retail-Internet industry group. PDD Holdings ADR, Amazon.com and Liquidity Services are among the top 5 highly rated stocks within the group.
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