BBBY trade ideas
BBBY: Sort opportunityAn intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement close.
1) OBV oscillator crossing down the trend line.
Market is currently closed. No market activity presented so far. We ll try to find an entry price between 22.39 - 22.74 just after the opening bell.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
NOTE: "IF DONE" analysis, when presented, refers to 80% of the recorded back tested past succeeded performances.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Call me crazy but I might start accumulating some....Just read this article on possible stocks to own for 2018 from Forbes and this is perversely compelling for some reason. This is a bonkers idea, but BBBY has fallen so much that once it starts heading up I might average into it with the expectation of selling the tranche in the 40s and 50s. I would want to see some turnaround strategy in the news before I take this seriously though, tbh...
Lowest point in 8 yearsEntry point for CALL LEAP and protecting continuous downward action with mid-way PUT
BBRY Could Be a Perfect Trading Vehicle BBRY Could Be a Perfect Trading Vehicle for now. Patience is needed for buy/hold investors.
LONG FOR BBBY All the technical clues are on the long side. Positive divergence and trend analysis with falling wedge is supporting the long position. Targets are highlighted on the graph.
Target-1: 30
Target-2: 33.50
Stop Loss: 26.90
Get exposure to traditional retail - $BBBY and $SIGTraditional retail has not gone away, nor is it about to die.
Online shopping is of course a very powerful trend, but for personal products, such as jewellery, fashion and furniture, people still want personal service.
$BBBY and $SIG are trading at P/E ratios below 10, price to book below 2.0x and have historically had very decent cash flow and return on equity.
Their stock prices have also been depressed for the last 3-4 years in the general anti bricks-and-mortar trend.
Both of them are very decent buys here and on our top priority list.
BBBY- Bad Stock Earnings!!Just like all negative or positive NEWS, some people benefit and some people loss. This is an example of a bearish trend continuing and a $4.00 gap down.
Triple Top Continuation Breakout for BBBYHi all
Here's a plan for a Short Trade of Bed Bath & Beyond (BBBY), in an attempt to capture the continuation breakout move of a Triple Top Pattern.
1 BBBY has been trading in a steady uptrend from Jun 2009 to Dec 2013, rising from $28.00s to $80.00s. However, the bullish trend line was broken subsequently on Apr 2014.
2 The breaking of the trend line in 1 has evolved into a major Triple Top pattern, with price breaking out on Nov 13 2015. This breakout reached around 42.50s on Jan 28 2016 and paused for consolidation subsequently.
Using a conservative measure, it is projected that the theoretical minimum target of the Triple Top is around 37.50s. Also this is part of a very extended bearish move of about 35.00 (77.50 - 42.50). This effectively tells us that BBBY is in a bearish environment right now.
3 After hitting the lows of 42.50s, price proceeded to consolidate in the form of Triangle pattern. As of Oct 14 2016, price has closed below the triangle continuation pattern support levels of 42.50s. There is a high potential that this triangle is Wave 2 of a greater Elliott 5 Wave pattern, hence I had marked out the corrective triangle waves A, B, C, D & E as shown. This indicates that the consolidation phase is over and price is likely to resume the bearish move.
P rojection: Given that the current trend is bearish and price managed to close the week below the triangle support area of 42.50s, it is likely that price will proceed to breakout lower going forward.
E ntry: Any time from now at a price no higher than 42.00 and no lower than 40.00.
Risk Management: We can size the short position based on an Initial Stop Loss above 47.00.
This Stop loss should be shifted to breakeven level, if price is able to breach the 40-39 zone. This will essentially minimize the risk of loss from this trade.
After which, an alert will be set on the red dotted arrow. This arrow states defines the expected minimum drop in price as time goes by. Therefore if price daily closes above this line, it indicates that price is not moving as bearishly expected hence the entire position should be closed.
Taking Profit: Personally I would prefer to take partial profits, expressed in percentage of the position, if price progresses to breach various whole figure prices. Higher percentages is allocated to the closer profit taking levels, as they have a higher chance of been hit.
50% of the profit to be taken at around $38.00, based on the Triple Top Price Target.
30% of the profit to be taken at around $33.00, based on price projection of the Triangle Consolidation Pattern.
15% of the profit to be taken at around $28.00, based to support buying observed during 2008-2009.
5% of the profit to be taken at around $23.00, as it is likely an Elliott 5 Wave pattern with an Extended wave 1.
This means the current breakout wave 3 is likely to move only as far as 61.80% of the Wave 1.
References:
Triple Top Pattern Explained: www.tradersdaytrading.com
Triangle Consolidation Pattern: thepatternsite.com
1st Wave Extension Impulsive Waves: www.topratedforexbrokers.com
BBBY Short BiasLast week, Bed Bath & Beyond closed under $42 level, which has been acting as a MAJOR FLIP Zone going back to 2003. This level has held as support since January 2016 and after a full year of consolidation between $42-$52, prices painted a weekly close below this level closing on the lows signalling bearish momentum. With $42 taken out, the price is likely to aim for next key WEEKLY support at $35.55. Any rallies on the daily chart should be seen as value for shorting opportunities.
SHORT BBBYI'm short BBBY under 48. I expect this to roll over after the massive wick that printed today.
Ryan
BBBY rebound after H&SYeah it got two downgrades today but since when do we care what PT's the big guys throw out.
This is as bullish as a chart gets and this chart follows patterns. I shorted the H&S and would like to ride it back up.
