The Lightning Round segment of Mad Money is very popular with viewers. Callers get the chance to ask host Jim Cramer about stocks they are interested in. One caller Monday night asked about Chewy Inc. (CHWY) : "Now's the time to buy Chewy. Sales are going up," said Cramer.
Let's check out the charts.
In the daily bar chart of CHWY, below, we can see we are dealing with a relatively new IPO. The pet supply company went public in June and declined into November.
Prices have recovered but have made a small double top in January and February around the $32 level. Prices have traded around the 20-day and 50-day moving averages.
The daily On-Balance-Volume (OBV) line shows a rise from November but then a longer sideways period which suggests that buyers and sellers of CHWY have been in balance. The Moving Average Convergence Divergence (MACD) is above the zero line but just slightly - not a strong technical picture.