Bed Bath & Beyond (BBBY) reported earnings better than consensus and the whisper numbers. The buy zone is $14.52 to $18.37, preferably below $16.61. BBBY is trading at $18.20 as of this writing in the premarket. This is a momo trade and thus suitable only for aggressive investors. The first target zone is $20.73 to $22.87. The second target zone is $24.83 to $29.57. Maximum recommended quantity is 30% of full core position size. Stop zone is $12.43 to$13.38.
TAKE PARTIAL PROFITS ON BED BATH & BEYOND AND BUY AGAIN ON A DIP
There are nice gains on Bed Bath & Beyond (BBBY). If you have a large account or you are aggressive, consider taking partial profits in the zone of $19.73 to $20.68. Bed Bath & Beyond is trading at $20.00 as of this writing. Depending upon the quantity you accumulated, consider taking profits on one-half of the position.
If you have a small account or did not accumulate enough quantity, consider continuing to hold.
The Plan
The plan is to buy more when BBBY dips back into the buy zone. The maximum quantity is being increased to 35% of full core position size.… Please click here or the title below to read more.
October 1, 2020