Shares of Bed Bath & Beyond Fall Below Previous 52-Week Low
Bed Bath & Beyond (NASDAQ:BBBY) traded today at a new 52-week low of $40.11. Approximately 151,000 shares have changed hands today, as compared to an average 30-day volume of 2.4 million shares.
Bed Bath & Beyond Inc. operates a nationwide chain of retail stores. The Company, through its retail stores, sells a wide assortment of merchandise principally including domestics merchandise and home furnishings as well as food, giftware, health and beauty care items and infant and toddler merchandise.
In the past 52 weeks, shares of Bed Bath & Beyond have traded between the current low of $40.11 and a high of $74.21 and are now at $40.24. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 0.3%.
Bed Bath & Beyond has overhead space with shares priced $40.24, or 38.8% below the average consensus analyst price target of $65.78. The stock should run into initial resistance at its 50-day moving average (MA) of $48.93 and subsequent resistance at its 200-day MA of $53.67.
SmarTrend recommended that its subscribers protect gains by selling shares of Bed Bath & Beyond on September 13th, 2016 by issuing a Downtrend alert when the shares were trading at $43.36. Since that call, shares of Bed Bath & Beyond have fallen 7.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows bed bath & beyond