Bed Bath & Beyond exposed to a free fall - Analysis - 30-06-2022

Economies.com
7 months ago

Bed Bath & Beyond's stock (BBBY) skidded in the intraday levels after reporting disappointing first quarter data, with CEO Mark Treiton eliminated from his position, with the stock tumbling 23.58%, or 1.54 points, settling thereafter near record lows at 4.99, with trading volumes surpassing 35 million shares, above 10-day averages of 10 million shares. 

 

The main downward trend dominates in the medium and short terms, while suffering negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels. 

 

Therefore we expect more losses for the stock, targeting  the pivotal support of 3.52, provided the resistance of 7.48 holds on.

 

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Expected trend for today: Bearish 

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