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High volatility in Bed Bath & Beyond Inc. stock price on Wednesday which ended trading at $23.08

StockInvest.us, 1 month ago

Bed Bath & Beyond Inc.

The Bed Bath & Beyond Inc. stock price gained 11.77% on the last trading day (Wednesday, 17th Aug 2022), rising from $20.65 to $23.08. , and has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 33.33% from a day low at $22.50 to a day high of $30.00. The price has risen in 9 of the last 10 days and is up by 280.23% over the past 2 weeks. Volume fell on the last day by -133 million shares and in total, 257 million shares were bought and sold for approximately $5.92 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

B. Riley Securities is very positive about BBBY and gave it a "" rating on Aug 16, 2022. The price target was set to 5.Over the last 90 days, this security got 2 buy, 14 sell, and 1 hold ratings.

Given the current short-term trend, the stock is expected to rise 11.33% during the next 3 months and, with a 90% probability hold a price between $6.24 and $25.69 at the end of this 3-month period.

Bed Bath & Beyond Inc.

Mostly positive signals in the chart today. The Bed Bath & Beyond Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.80 and $7.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, July 06, 2022, and so far it has risen 416.33%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

On the downside, the stock finds support just below today's level from accumulated volume at $20.65.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $7.50 between high and low, or 33.33%. For the last week, the stock has had a daily average volatility of 37.74%.

The Bed Bath & Beyond Inc. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.Since the Bed Bath & Beyond Inc. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Bed Bath & Beyond Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Check full Bed Bath & Beyond Inc. forecast and analysis here.