Red day on Friday for Bed Bath & Beyond Inc.
(Updated on Sep 30, 2022)
Sell candidate since 2022-09-23 Loss -8.70% PDF
The Bed Bath & Beyond Inc. stock price fell by -1.62% on the last day (Friday, 30th Sep 2022) from $6.19 to $6.09. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.36% from a day low at $5.98 to a day high of $6.48. The price has fallen in 7 of the last 10 days and is down by -24.06% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 million shares and in total, 8 million shares were bought and sold for approximately $46.66 million.
Given the current short-term trend, the stock is expected to rise 17.07% during the next 3 months and, with a 90% probability hold a price between $7.13 and $29.11 at the end of this 3-month period.
Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bed Bath & Beyond Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.46 and $9.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, August 17, 2022, and so far it has fallen -73.61%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
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 $0.50 between high and low, or 8.36%. For the last week, the stock has had daily average volatility of 10.06%.
Bed Bath & Beyond Inc. is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Bed Bath & Beyond Inc. to open at $6.18, and during the day (based on 14 day Average True Range), to move between $4.88 and $7.30, which gives a possible trading interval of +/-$1.21 (+/-19.94%) up or down from last closing price. If Bed Bath & Beyond Inc. takes out the full calculated possible swing range there will be an estimated 39.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.19 (1.64%) than the support at $5.81 (4.60%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Bed Bath & Beyond Inc. stock A Buy?
The Bed Bath & Beyond Inc. stock holds several negative signals and despite the positive trend, we believe Bed Bath & Beyond Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.175Sell Candidate Unchanged
Predicted Opening Price for Bed Bath & Beyond Inc. of Monday, October 3, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price October 3, 2022||Current price|
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About Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc., together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products. As of February 26, 2022, the company had 953 stores, which included 771 Bed Bath ... BBBY Profile
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