Despite posting stronger-than-expected fourth-quarter results, Chewy Inc. (NYSE:CHWY) is facing a severe technical downturn, with its stock momentum landing in the lowest decile.
Bearish Technicals And Price Trends Drag Down Averages
The pet retailer’s Benzinga Edge Stock Rankings‘ momentum score fell week-on-week, currently sitting deep in the red at an 8.84th percentile.
This momentum score, which evaluates a stock’s relative strength based on price movement and volatility across multiple timeframes compared to its peers, highlights a stark contrast with the company’s fundamental business performance.
While Chewy is currently displaying a positive short-term price trend over the last couple of months, both its medium-term and long-term price trends remain decidedly negative.
