Pet e-tail stock Chewy Inc (NYSE:CHWY) is up 0.2% to $37.50, boasting a 29.2% year-over-year increase. The $36 level is now a strong support level after a pullback. A trendline suggests more upside potential.

Analyst Rocky White notes CHWY is close to its 260-day moving average, with a history of gains after similar patterns. A move back above $42 could be in the cards.

Despite high put/call open interest ratio, options are attractively priced with SVI at 42%. Traders are expecting low volatility.

Read more at Yahoo Finance: Historic Signal Says Chewy Stock Has More Room to Run