Long Position on CHGG @ $28.80 on 12/18/2018 (Momentum)

double bottom formation on $CHGGChegg, Inc. (CHGG) operates direct-to-student learning platform that supports students on their journey from high school to college and into their career with tools designed to help them pass their test, pass their class, and save money on required materials.

The company offers Chegg Services, which include digital products and services; and required materials that comprise its print textbooks and eTextbooks.

Its digital products and services include Chegg Study, which helps students master challenging concepts on their own; Chegg Writing that enables automatically generate sources in the required formats, when students need to cite their sources in written work; Chegg Tutors that allow students find human help on its learning platform through a network of live tutors; Chegg Math, an adaptive math technology and developer of the math application; Brand Partnership, which offers various ways for student-relevant brands to reach and engage high school and college students; Test Prep that provides students with an online adaptive test preparation services; and internships services.

The company rents and sells print textbooks and eTextbooks; and offers supplemental materials and textbook buyback services.

Shares have formed a bullish "double bottom" and are expected to move higher from this formation. 

Entry Point: $28.80

Stop Loss: $27.30

Trading Range: $15.47 - $32.82

Target Price: $31.70

Updates

1/11/2019 10:00:54 AM

CHGG closed at $32.15

Position closed on 1/11/2019 at price of $32.15 with a 11.63% gain in 24 days.

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