Retail is open and primed!BBBY earnings expected with positivity and nothing but net'
Bed Bath & Beyond Inc . and subsidiaries (the "Company") is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond .
Bed Bath & Beyond operates websites at bedbathandbeyond.com, bedbathandbeyond.ca, buybuybaby.com, buybuybaby.ca, facevalues.com and decorist.com.
With retail popping up BBBY looks to be a real BBY , trend reversal since the crash last year, and solid fundamentals and projections.
Not sure why this is considered a meme stock since it actually makes big bucks, and price is below its intrinsic value according to Ben Graham's calculation for that.
Entry price : $30 candle close
TP : $45
SL : $25
(Disclaimer - not financial advice just speculation and logical opinions)
NASDAQ:BBBY
BBBY trade ideas
$BBBy Bed Bath & Beyond Pivot Targets
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BBBY - Beyond the sky ⭐-Guidance for 2021, flat revenue growth of $8.1 billion, and $510 million of EBITDA.
-11% of the company to be repurchased over the coming 12 months, on top of the 13% repurchased the past several months.
-Despite no top-line growth in fiscal 2021, this stock trades for less than 6x EBITDA.
should be renamed, Bed Bath and Beyond $45 IncomingTLDR bbby going bigly beyond
Measured move from previous run up 120% brings us up beyond previous resistance around $45 from where we are now
Previous run up saw the largest volume bar entry BBBY has ever seen followed by 15 bars on the weekly chart or 69 bars on the daily before blast off
This time we have had again the largest volume bar entry ever bigger than the last and, this time around a price of $30, were only now at 41 bars on the daily chart from this volume entry and conveniently have earnings coming up within this time period at 63 bars. Just enough time to scam it sideways to burn short date option earnings players before scamming it to new highs again
Conveniently this delay would also take us to 100dma support as well as on the weekly chart would have us seeing the 100 weekly moving average bullishly crossing the 200 weekly moving average which historically for bbby has shown good things happening for quite some time
$79 previous ATH of course possible
This would also all within keeping of a tidy little channel lining up with the 100 and 200 day moving averages and with left beginning point of the channel at $5.95 the highest price volume point this whole crash and recovery, starting the channel off on the third day of support at this highest price volume level
Seems like bed and bath are gonna go Bigly beyond!!
BBBY is near an EMA crossOn a daily chart the 5 period EMA is about to cross the 20 period EMA. As they cross that is an attractive area for purchase. You can place a stop below the 50 period EMA so you don't risk a substantial portion of your capital on such a volatile stock. The daily stochastic oscillator is also in an oversold position to give further support for this idea.
BBBY - found support (speculative!)BBBY crashed back to earth after the recent short squeeze that sent it from $25 to $53.90 in just 4 days.
It now appears to have found support back at 25.00 (78.6 % fib retracement support as well as a rather significant horizontal support). Coupled with bullish divergence now forming between price and RSI, it looks like a "safe" zone to test water again with an initial stop placed several ticks below yesterday's low @ 24.59.
Warning! This is a speculative stock (think "wallstreet bets" & potential "epic short squeeze #2" lol). Do make sure to have a stop loss in place and trail your stops up diligently should the trade work out.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)