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Wednesday, May 09, 2018 2:01:02 PM
Bed Bath & Beyond $BBBY Into Major Technical Support
Shares of Bed Bath & Beyond Inc. have fallen off a cliff in the past few years. Once an $80+ stock, it now sits near $16.50, left for dead. However, smart traders are beginning to accumulate shares based on a technical double bottom support being tagged at $16.50. This is huge support and will likely see a strong bounce in the coming weeks/months. The upside target from this level could likely be $35.00. That is an over 100% move. Brick and mortar retail has been left for dead because of Amazon.com (AMZN). However, I believe it is well overdone and these companies will survive in some form or another. At current valuations, there is a ton of value to be had.
Gareth Soloway
InTheMoneyStocks
Shares of Bed Bath & Beyond Inc. have fallen off a cliff in the past few years. Once an $80+ stock, it now sits near $16.50, left for dead. However, smart traders are beginning to accumulate shares based on a technical double bottom support being tagged at $16.50. This is huge support and will likely see a strong bounce in the coming weeks/months. The upside target from this level could likely be $35.00. That is an over 100% move. Brick and mortar retail has been left for dead because of Amazon.com (AMZN). However, I believe it is well overdone and these companies will survive in some form or another. At current valuations, there is a ton of value to be had.
Gareth Soloway
InTheMoneyStocks
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