Shares of online pet products retailer Chewy (NYSE: CHWY) has been under the spotlight in the last 2 months after the stock bounced back strongly from its September lows. The stock dropped more than 35% in 2022 and reached a fresh 52-week low of $22 in September.
However, in the last few days, the stock remains undecided as to which way its next directional break will be. The stock gave up some ground last week despite the company releasing robust Q3 earnings results. Chewy released the financial results for the third quarter of 2022 on Dec. 8 after the market closed.
Check out the detailed technical outlook of $CHWY stock here - https://gulfbrokers.com/en/chewy-stock-has-formed-the-double-bottom-formation