BBBY has been a business that has struggled for a long time, especially with COVID impacting their business model. With the world looking to open back up, and vaccines coming around the corner, it may be time for BBBY to regain some momentum. The monthly chart has the price reclaiming the 50 Period Moving Average, with the 9 Period Exponential Moving Average catching up, leading me to believe that this could be a good dip buy for BBBY.
The reason I am neutral on this ticker is that there is also a gap fill below, so if any bad news hits the market with regards to reopening, or the vaccine, it could be played to the short side as well. Nonetheless, as long as it holds the top of that gap as the support level, we could be seeing a really good opportunity to go long into their ER on 1/7/2021.
The reason I am neutral on this ticker is that there is also a gap fill below, so if any bad news hits the market with regards to reopening, or the vaccine, it could be played to the short side as well. Nonetheless, as long as it holds the top of that gap as the support level, we could be seeing a really good opportunity to go long into their ER on 1/7/2021.