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GuyInHat

Breadown of a descending triangle with gap to fill.

Short
Bed Bath & Beyond Inc. (NASDAQ:BBBY)  
GuyInHat Updated   
NASDAQ:BBBY   Bed Bath & Beyond Inc.
Trend Analysis Chart Patterns Descending Triangle breakdown puts gapfill
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trendanalysis chartpattern descendingtriangle breakdown puts gapfill
Looking at a bearish descending triangle that broke below the support line on Thursday. Could potentially buy puts here and target the gap fill. If youre ballsy you can target the measured move from the height of the triangle downward. Not financial advice.
Comment:
The measured move in blue is just for reference. I dont think it would go down that far anytime soon, if ever.
Comment:
Earnings on Thursday likely to change this.
Trade closed: stop reached:
Failed trade. Fakeout to the downside. Jumped back above the support level.
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