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Watch for Bed Bath &Beyond to Potentially Pullback After Gaining 20.47% Yesterday

By James Quinn

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.

In the past 52 weeks, Bed Bath &Beyond share prices have been bracketed by a low of $7.31 and a high of $19.57 and are now at $11.97, 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

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