Bedbathandbeyond
BBBY wants the 50DMA before it tries to go beyond the downtrendLooking like a nice lil possible triple top coming thru before heading south to home base it at 50DMA and other trend support in the purple box.
Then we need to try and go way beyond beds and even beyond that overhead downtrend channel in red, that’ll be the moment of truth if we make it out of the downtrend cycle.
If it doesn’t it’ll be onwards to check out the 200dma.
LONG BBBY 13.85 - 13.00 - 12.50Looking for a drop on BBBY to take it long. Trending up and entering on the different support levels combined with fib retracements.
The stock has a potential fundamental upside with mayor company turnaround in play. Looking for a good entry point because seeing this stock
at 20.00 in the next 2-4 months is not a long shot. Maybe sooner. If it goes below 12.50 I will be out and re-enter at a better level.
Safe trading.