I am interested in BBBY
I've used 3 timeframes for overall analysis.
Current Price: $20.05
Current Support: $18.70, $16.40
Current Resistance: $20.80, 23.80, 26.25, 30.60
Observation of each #frame:
1. Monthly frame:
- Respected the support at $16.40
- Out of Curved channel resistance to sideway.
- Volume shows increasing quantity for the last 12 months....
Personally I am using a move > than the high of what I have labeled "c" at 23.42 as my stop. It looks to me it could drop to the 10-15 level. Take a look and see what you think about it.
Bed Bath & Beyond share price has confirmed a doble bottom in its secong leg within at least an ABC ascending pattern. Stop loss can be placed below the double bottom pattern ($21.09) while the first target is $26,90.
Good luck fellow traders
With the trading year winding down here, I'm not keen to pile into a great number of trades, but there are a few underlyings that may be worth playing here if holiday frivolity just doesn't provide you with enough and/or you're just a hard core trading addict that has to put something on in order to satisfy your need for market engagement ... .
BBBY announces...
Yeah it got two downgrades today but since when do we care what PT's the big guys throw out.
This is as bullish as a chart gets and this chart follows patterns. I shorted the H&S and would like to ride it back up.
Although I traditionally see earnings season as beginning with the first play in the alphabet (AA), there are some that occur before AA that I've frequently played. Next week, it's MON, BBBY, and WBA. MON announces earnings on 1/6 before market open (look to put on that play before Tuesday NY close); WBA, 1/7 before market open (put on Wednesday before market...
BBBY has formed a classic head and shoulders reversal pattern. With poor guidance and an update on recent estimates this stock is likely going to continue going down for the next 3-9 months. Consumer spending seems to be shifting away from this store as more people are buying retail goods online. The so called "Santa Claus" rally is likely going to leave investors...
A clear head and shoulders pattern has appeared.
Target $56 by September
Moving average crossover and acceleration bands correlate strongly with head and shoulders pattern.
Possible long term short if it hits neckline
BBBY expected to open at 75.50 for a Perfect Gap N Go. Watch out for support/resistance at 75.40 To learn to trade this strategy for free, go to www.RealLifeTrading.com
