Bed, Bath & Beyond Stock Analysis

Bed, Bath & Beyond stock has recently shown technical strength that is worth taking a closer look at for a short-term trade.

Trading under the ticker BBBY, they closed yesterday at $19.76/share, on strong volume for the last few months, indicating that there is at least short-term momentum for further price movement.

Bed, Bath & Beyond BBBY Stock Technical Performance For The Last Year

BBBY Stock Price: $19.76

10 Day Moving-Average: $18.75

50 Day Moving-Average: $20.10

200 Day Moving-Average: $12.86

RSI: 54

Their MACD is beginning to curl up, showing signs of a possible breakout to the upside, which is also confirmed by the price about to cross the 50 Day Moving-Average, bringing the 10 Day Moving-Average along with it, a bullish signal.

Since BBBY stock also has options to trade, buying the $19 calls with the 1/8 expiration seems appealing in this instance, while selling the $19 puts with the same expiration date can also yield a little more money.

Overall, it appears that Bed, Bath & Beyond stock has more room to run, making a great opportunity in the near-term for traders of common shares & options alike!


Market Outlook & Review 8/16/2020

Another flat week in markets… S&P 500 up narrowly, NASDAQ down narrowly… somewhat fixing the spread between the two that inevitably needs to correct soon. While we cover a lot of smaller cap names with strength, the distance that biotech & the largest tech companies has created has made things a bit more overblown than usual in the NASDAQ index.

Last Weeks Trades – WMT & SPXS Calls, Trimming Gains On STX, TFII, WCLD & SKYY

Last week was a trimming week in the longterm hold category. I purchased CRON shares, and still have outstanding $7 calls with a few months to expiration. I still like the company fundamentals, and am looking to see a boom headline in the space move the overall cannabis segment. CRON offers solid fundamentals compared to their peers, although I am also looking into Aphria Inc. whose ticker is APHA.

I also took profits on STX, TFII, WCLD & SKYY, closing all positions. I will look to reenter after a shakeout of prices, but the current gains warranted a close & re-entry.

On the options front, on Thursday afternoon I purchased WMT calls for $132 with a next day expiration which closed with a solid profit. I also purchased some $6 SPXS calls with a 10/16 expiration, to add to an existing spread of $7-9 calls for the same date, as I expect to see volatility rise before the election & “COVID-19 second wave”.

Market Reports We’re Watching This Week

The beginning of the week is a bit major-news-light, but Wednesday we will be watching the US Building Permits count & Change, as well as the FOMC minutes.

On Thursday, the Initial Jobless Claims & 4 Week Average reports will be released.

Closing the week, on Friday, there will be many PMI Survey Numbers & Existing Homes Sales numbers release.

In these times where it is difficult to gauge exactly where the economy is heading, these numbers may offer us some sobriety from the plethora of earnings reports coming in.

This Week’s Earnings Reports

There are 517+ earnings calls this week, many of which are large cap companies in the tech & consumer spaces. Walmart , Home Depot & Salesforce are among a number of names to be watching for their reports.

It’s beneficial to be watching how these economic numbers pair up with the earnings report numbers, as it will give greater insight into the true spread between the market indexes & the overall real economy, as a lot of highly-saturated large names have been dictating the flow of the macro indexes for the most part recently.