Attack of the Meme Stocks: $BBBY EditionAre we seeing the $GME/$AMC/$BB mania start to bleed over into $BBBY? After briefly touching $47.73 yesterday (~3Y high), the stock consolidated around this level today (purple dashed line) and showed some late upside momentum out of the pennant and above $50, ending the day at $52.98. The last five bars of the day seem to be significant, as they were the only real sustained movements above the $50 mark.
Currently have a net long exposure with a price target of $55 by EOW.
This is my first analysis post as a member of the TradingView community, so please shine light on anything you see that I am overlooking. Thanks for stopping by!
BBBY trade ideas
BBBY Squeezing & Once Found By Internet Meme, 70-80 EasyBBBY has been squeezing since the 20s. No DD but there was some insider buying back in the summer of 2020 showing that employees believe in their new plan to come out on top of 2021. High short float with a good reversal bottom found earlier this year. This stock with the MOMO from retail investors with stimulus $ will go hard to the 70s soon. Remember, pigs get slaughtered.
BYYY shows amazing potential!Ok so it’s been over 3 years since the stock hit over 45 of course long term investors were going to sell! They were bag holding! So to everyone that bought stock over 35 don’t freak out loll... I honestly think this baby is going to go back up to at least 38 by the end of month 💪📚
The Short Squeeze MemeLast week I put out a video idea on how to do research for what could become a trading meme: Short Squeezes. Today that has happened! Nearly every stock found on the scanner for high float short pumped double digit percents. Do not ignore this trend in the market going on right now!
Bed, Bath, and Be Long100,000 people just learned what a gamma squeeze is. they are buying gamestop and getting rekt soon. while they is doing that, we think like a pro trader. ok so something about a stop loss and not to do more than 2% of tha portfolio?
nah, screw this, let's just buy bed bath and beyond. what could possibly go wrong? they sell the best candle and keep me far away from all those crazy people pumping gamestop. i have never seen bed bath and beyond even next to a game stop. those gamers dont even know what a bath is... do they?
$35
$BBBY W4 retrace and W5 push to $30$BBY looks like its completed W3 at the 2.618 extension after a really deep W2 that nearly retraced 100%. Its also hit the 1.786 extension on the FibFork. This along with the Stoch RSI and RSI being extremely over bought, it looks ready for a W4 move down.
Because it such a deep W2 and an extended W3, i think it will have a shorter W4, not retracing fully to the 0.382 level. Instead i think we see a stop at 0.236, which also lines up with the median of our FIbFork.
From there we can proceed to W5, anywhere from 23.6% to 50% beytond W3 high.
This puts W4 buy zone rite around 25.50 and a W5 PT of $30-$32.
The time analysis show W4 coming in around Jan 19-20 and W5 around Jan 25-26....this makes sense to me cuz of the potential for political noise around Bidens inaugeration. Might creat some choppy and uncertain conditions, but once he's sworn in we could see a surge in volume due to the prospect of future stability and stimulus aid.
$BBBY Bed Bath & Beyond short term Bullish Targets
The post earnings selloff proved to be no more than a shave out
and investors pilled in on the opportunity to pick up the shares at a 15% discount.
Our alert is now set for a break above which is overall 0.236 retracement Fibonacci
level which when broken opens up the chart for a rally towards the gap fill at $23.88
& $26.16 in the short term.