Bear Flag Of The Month: Bed Bath & Beyond Inc.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) has an amazing bear flag on the daily chart. The consolidation below the 20 moving average and 50 moving average increase the odds of this playing out. Today, the stock was up sharply above those two resistance levels but has since sold off to go negative. This adds fuel to the fire with further downside likely on a swing basis. The downside target would be the $72.00 level.