BBBY closes lower for the 3rd day in a row
Moving lower for the 3rd day in a row, BBBY ended the week -2.1% lower at 18.14 after losing $0.30 (-1.63%) today. Today's closing price of 18.14 marks the lowest close since June 1st. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 18.35, the stock confirms its breakout through the previous session's low having traded $0.35 below it intraday.
Friday's trading range was $0.60 (3.23%), that's slightly above last trading month's daily average range of $0.56. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might accelerate should prices move below the nearby swing low at 17.86 where further sell stops could get activated. Trading close to June's low at 17.71 we might see further downside momentum if potential sell stops at the level get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Bed Bath & Beyond
|Close to R1 Resistance||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Thrusting Pattern||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
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