What Can We Learn From Chegg's Charts?
Student learning platform Chegg has rallied from a low in May. Prices gapped above the 200-day moving average line in early November on an EPS beat. Now look at the very heavy trading volume on the downside gap in May and compare that to the upside gap volume - sellers in May were way more aggressive. The On-Balance-Volume (OBV) line shows a rise from May and only recently has it moved above the October high.