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Volatile ride for Bed Bath & Beyond Inc. stock price on Wednesday moving between $9.73 and $11.97

StockInvest.us, 1 month ago

Bed Bath & Beyond Inc.

The Bed Bath & Beyond Inc. stock price gained 18.00% on the last trading day (Wednesday, 24th Aug 2022), rising from $8.78 to $10.36. During the last trading day the stock fluctuated 23.02% from a day low at $9.73 to a day high of $11.97. The price has risen in 6 of the last 10 days, but is still down by -1.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 million more shares were traded than the day before. In total, 115 million shares were bought and sold for approximately $1.19 billion.

Wedbush is very positive about BBBY and gave it a "" rating on Aug 18, 2022. The price target was set to 5.Over the last 90 days, this security got 3 buy, 14 sell, and 1 hold ratings.

The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled.Given the current short-term trend, the stock is expected to rise 24.85% during the next 3 months and, with a 90% probability hold a price between $7.72 and $29.29 at the end of this 3-month period.

Bed Bath & Beyond Inc.

The Bed Bath & Beyond Inc. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $14.53. On a fall, the stock will find some support from the long-term average at approximately $8.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, August 17, 2022, and so far it has fallen -55.11%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $9.79 and $9.24.There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Bed Bath & Beyond Inc. finds support just below today's level at $9.79. If this is broken, then the next support from accumulated volume will be at $9.24 and $8.16.

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 $2.24 between high and low, or 23.02%. For the last week, the stock has had a daily average volatility of 23.17%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bed Bath & Beyond Inc. stock to perform well in the short-term.

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