Bed Bath & Beyond Into Major Support
InTheMoneyStocks.com | May 09, 2018 04:22PM ET
Shares of Bed Bath & Beyond (NASDAQ:BBBY) have fallen off a cliff in the past few years. Once an $80+ stock, it now sits near $16.50, left for dead. However, smart traders are beginning to accumulate shares based on a technical double bottom support being tagged at $16.50. This is huge support and will likely see a strong bounce in the coming weeks/months. The upside target from this level could likely be $35.00. That is an over 100% move. Brick and mortar retail has been left for dead because of Amazon.com (NASDAQ:AMZN). However, I believe it is well overdone and these companies will survive in some form or another. At current valuations, there is a ton of value to be had.
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