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SmarTrend Watching for Potential Pullback in Shares of Bed Bath &Beyond After 20.47% Gain

By David Diaz

Bed Bath &Beyond (NASDAQ:BBBY) traded in a range yesterday that spanned from a low of $11.75 to a high of $12.74. Yesterday, the shares gained 20.5%, which took the trading range above the 3-day high of $10.31 on volume of 34.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Bed Bath &Beyond has traded in a range of $7.31 to $19.57 and is now at $11.97, 64% above that low. The 200-day and 50-day moving averages have moved 0.15% lower and 0.24% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Bed Bath &Beyond and will alert subscribers who have BBBY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders bed bath &beyond

Ticker(s): BBBY