Short term view - BED BATH BEYOND : The bearish gap has been tested, the fall resumes.
The trend has been momentarily interrupted by a correction. It approaches the resistance at $18.6000, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at $10.9000. The invalidation level is below $18.6000.Arguments :
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The moving average is capping prices.
- The bearish gap has been tested, the fall resumes.
Bed, Bath & Beyond is an omnichannel retailer providing products, services and solutions for the home and life events. The company operates an ecommerce platform consisting of various websites and applications, including bedbathandbeyond.com, bedbathandbeyond.ca, harmondiscount.com, and facevalues.com. The company sells an assortment of domestics merchandise and home furnishings. Domestics merchandise includes categories such as bed linens and related items, bath items and kitchen textiles. Home furnishings include categories such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings (including furniture and wall decor), consumables and certain juvenile products.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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