BBBY closes lower for the 3rd day in a row


Bed Bath & Beyond (BBBY) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
BBBY dominated by bears dragging the market lower throughout the day
BBBY closes lower for the 3rd day in a row
BBBY breaks below previous session low
BBBY falls to lowest close since June 1st
TQ Sentiment
Report Sentiment: 40% Bearish
Technical Forecast:
Overview

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.

Daily chart for BBBY
Volatility

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.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

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.

Conclusion

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
Condition Forecast Direction Win Avg Worst Best Events
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
More market conditions identified for TQ Pro members...
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