Intraday Technical Analysis Of Bed Bath & Beyond Inc.
Today’s instrument is Bed Bath & Beyond Inc. traded on the Nasdaq under the ticker BBBY.
Looking at the BBBY‘s chart, we can see that the company is in a downtrend and the reason for it is rumors of impending bankruptcy. It was lastly traded at around $0.30 whereas the 52W low had occurred at $0.23 a week ago.
Today, we could expect the share price to test the support level at around $0.28 where a technical upward reaction might be possible, although overall the downtrend will insist.
(Click on image to enlarge)
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