CHWY Follows Our Preferred Technical Price Path
by Mike Paulenoff
October 30, 2021 • 8:40 PM EDT
On the morning of October 14, Mike Paulenoff posted the following time-sensitive comment about CHWY (Chewy Inc) to MPTader members:
"CHWY has the right look of a very mature correction from its ATH at 120 (2/16/21) to Monday's (10/12/21) low at 60.45, which represents a 50% haircut from the ATH. As of this moment, with CHWY trading at 62.72, my work does NOT yet have confirmation that THE LOW has been established. My pattern and momentum work are "warning me" that CHWY's multi-month correction is nearing downside exhaustion. To get confirmation that a significant low has been established, CHWY needs to climb and sustain above 66.50. This name should be on our radar now... Last is 62.74."
Fast-forward exactly one week to October 21, and Mike alerted MPTrader members again:
"CHWY is pushing up against first resistance at 66.50, if taken out and sustained, will point to 72-73 in the aftermath of what increasingly appears to be a Bear Trap multi-month corrective low at 60.45 on Oct. 12th... Last is 66.50."
In the ensuing days, CHWY followed Mike's preferred technical price path, breaking out above 66.50. Then last week it surged to and above 72-73 to Friday's (Oct 29) high at 76.35, a full 22% from his first update and 15% above Mike's technical upside reversal signal.
This prompted Mike to make this late-session chart post on Friday:
"It's a dogs world... Since CHEWY turned up, and triggered an initial buy signal on 10/21 at 66.50, it has climbed 10 points and 15%, and its setup indicates this upmove is not done yet... Last is 75.56."
What's next for CHWY heading towards its early December earnings report? And what's ahead for many other individual equity names that Mike and MPTrader members discuss and analyze throughout each trading day, in addition to in-depth coverage of broadly-held macro indices, ETFs, Cryptocurrencies, and Commodities?
Join Mike and our members for discussion of actionable trading and investment ideas.
Last Tuesday afternoon, hours before CAVA (Cava Group) was scheduled to report Earnings, this is what I posted for MPTrader members:CAVA reports Earnings after today's close. Approaching the news, CAVA is circling 61, a full 40% beneath its April 2026 high at 98.79, amid an unconfirmed new corrective low at 60.21 yesterday (8/10/26), leaving CAVA positioned for a "buy-the-news" setup (the opposite of a sell-the-news setup in a name that is up 30% to 40% approaching Earnings).
Good Sunday Afternoon, MPTraders! Last Thursday afternoon, ahead of AAPL's Earnings, this is what we discussed about the stock's probable price path in reaction to the news:Unless AAPL produces something extraordinary, or otherwise announces some unknown bullish catalyst, my pattern work has a very difficult time expecting anything other than a "best-case" sell-the-news scenario in reaction to Earnings. I can make a compelling argument that the upleg from the 6/26/26 low at 273.33 to the 7/29/26 ATH at 344.
XOM (Exxon Mobil)-- Back on May 19, 2026, a fellow MPTrader member requested an update on XOM. This is what we discussed at that time:My attached Daily Chart setup shows my preferred scenario calling for a near-term peak of the current upmove from the 4/17 low at 141.97 to a target zone from 162 to 165, followed by a rollover and press lower that revisits and possibly breaks the 41/7 low, which also will complete the larger corrective process from the 3/30/26 ATH at 176.41.
Pharma Update: MRK and LLYOn Wednesday (6/24/26), this is what we discussed about MRK:MRK as well, which we see on my attached Daily Chart exhbits a VERY BULLISH technical setup-- quite the opposite of beleaguered PFE. My pattern work argues that all of the price action from the 2/25/26 high at 125.14 represents a high-level bullish digestion period and pattern atop the major upleg from the May 2025 low at 73.31.
On January 2, 2026, this is what I posted about CAVA (Cava Group Casual Mediterranean Cuisine) to MPTrader members:After CAVA's meteoric climb from 29.00 in October 2023 to an ATH at 172.65 in November 2024, the stock rolled over into a relentless decline that hit its low at 43.
