$BBBY: #Bullish #Long while market still shaky. Best Candidate?!
I am interested in BBBY
I've used 3 timeframes for overall analysis.
Current Price: $20.05
Current Support: $18.70, $16.40
Current Resistance: $20.80, 23.80, 26.25, 30.60
Observation of each #frame:
1. Monthly frame:
- Respected the support at $16.40
- Out of Curved channel resistance to sideway.
- Volume shows increasing quantity for the last 12 months. likely Collection of big institutions/funds.
- RSI just crossed above 30. A RSI Support from Oct 2008 till June 2017 (10Yr), then become resistance (June17-June18).
Despite the crossing above 30, the Reading still Down trending.
- RSI is almost crossing above RSIwma45 during current month of June 18.
- Cardwell's (cfg) shows an increasing tip toward 50Level (an Uptrend signal for CFG>50)
2. Daily frame
- Resistance at $20.80, $23.80, $26.25.
- Support line at 19.10, 18.80
- WMA45 support at $18.87
- gap up closed, and still prices are retraced 5.31% from the 20.80 high. too early to be sure, but for now, it looks holding above the end of gap.
- Support/Resistance proven trend-line (white-color) adding current down pressure.
- RSI crossed above 60 at breakout of 18.20 reaching 76, retracing to 55-65 while price hold above WMA support.
- Daily RSI retracing is a signal for weekly being at resistance. Weekly RSI resistance is 50, a critical resistance if Price would start up trending.
3. 4H frame
- I use 4H frame for stocks to spot early strong RSI Reversals. Check the strong PR happened between 40-60 zone last two weeks of May.
- currently, RSI under pressure by RSIwma45 in teh 4H frame as Daily RSI is retracing (breathing).
First Entry should been made at breakout out of ~18.5 June 5th.
Second Entry would likely be:
- at breakout of inclined resistance (daily frame)
- and horizontal resistance at 20.50 - 21.00
- keep observing for strong PR signal in 4H frame
- This should also be coincide with RSI/Price being positive on Daily frame.
- Volume above average, as confirmation.
Final Note:
$SPX, $COMP, and $DJI are a bit shaky. $BBBY will be entered only in stages, and with market overall indices being mostly positive (No NR nor Support breakouts). Best time to by the stock is at Index starting new uptrend. Keep your eye wide open on market index.
Makr sure stock remain positive at timeframe correlation perspective. because it'd quickly turned risky if break ones of current major supports and would likely turned into something totally different that what we are looking for now.
**The best candidate is ones with positive technical symptoms while market at end of sideway/downtrend shaken period**.
Will be updated ...
I've used 3 timeframes for overall analysis.
Current Price: $20.05
Current Support: $18.70, $16.40
Current Resistance: $20.80, 23.80, 26.25, 30.60
Observation of each #frame:
1. Monthly frame:
- Respected the support at $16.40
- Out of Curved channel resistance to sideway.
- Volume shows increasing quantity for the last 12 months. likely Collection of big institutions/funds.
- RSI just crossed above 30. A RSI Support from Oct 2008 till June 2017 (10Yr), then become resistance (June17-June18).
Despite the crossing above 30, the Reading still Down trending.
- RSI is almost crossing above RSIwma45 during current month of June 18.
- Cardwell's (cfg) shows an increasing tip toward 50Level (an Uptrend signal for CFG>50)
2. Daily frame
- Resistance at $20.80, $23.80, $26.25.
- Support line at 19.10, 18.80
- WMA45 support at $18.87
- gap up closed, and still prices are retraced 5.31% from the 20.80 high. too early to be sure, but for now, it looks holding above the end of gap.
- Support/Resistance proven trend-line (white-color) adding current down pressure.
- RSI crossed above 60 at breakout of 18.20 reaching 76, retracing to 55-65 while price hold above WMA support.
- Daily RSI retracing is a signal for weekly being at resistance. Weekly RSI resistance is 50, a critical resistance if Price would start up trending.
3. 4H frame
- I use 4H frame for stocks to spot early strong RSI Reversals. Check the strong PR happened between 40-60 zone last two weeks of May.
- currently, RSI under pressure by RSIwma45 in teh 4H frame as Daily RSI is retracing (breathing).
First Entry should been made at breakout out of ~18.5 June 5th.
Second Entry would likely be:
- at breakout of inclined resistance (daily frame)
- and horizontal resistance at 20.50 - 21.00
- keep observing for strong PR signal in 4H frame
- This should also be coincide with RSI/Price being positive on Daily frame.
- Volume above average, as confirmation.
Final Note:
$SPX, $COMP, and $DJI are a bit shaky. $BBBY will be entered only in stages, and with market overall indices being mostly positive (No NR nor Support breakouts). Best time to by the stock is at Index starting new uptrend. Keep your eye wide open on market index.
Makr sure stock remain positive at timeframe correlation perspective. because it'd quickly turned risky if break ones of current major supports and would likely turned into something totally different that what we are looking for now.
**The best candidate is ones with positive technical symptoms while market at end of sideway/downtrend shaken period**.
Will be updated ...
Comment:
$BBBY is set to report earnings after the bell today!
Comment:
Bed Bath & Beyond Q1 EPS $0.32, Inline, Sales $2.754B Beat $2.75B Estimate
Comment:
After the Earnings, the Stock droped around -9% and came up till now close to -4.5% with a reversal candle with volume. Interesting progress.
I remain with LT #Bullish Outlook
I remain with LT #Bullish Outlook
Comment:
#Entry at 20.70