Bed, Bath and Beyond tumbled nearly 20% at the end of June. Now it is fueling a comeback.
This stock was last covered by me at the end of June. At time, and even now, there has not been any major news that would suggest that this drop was truly warranted.
We had believe that it would respond and respond it did. Now it is close to the gap and the real test will be whether or not it will fill it or not. It's about a three dollar spread between the bottom of the gap and the top at around $69/share. If anything, the bottom of the gap looks to be a good stop.
Of course there are other indicators we should look at, so proceed with caution.
Disclaimer: Article is written for informational purposes. It isn't intended as investment advice.
Disclosure: I have no position in BBBY.
Labels: Featured Stocks, Finances