Sunday, 2 November 2014

NYSE stock pick of the day : BED BATH & BEYOND INC

US stock pick of the day and its coplete technical analysis
Stock of the day



Recommendation    :            Buy above $68.00
Target                     :           $70.50

STOCK SUMMARY:-
 
Bed Bath & Beyond Inc is overall in consolidate trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $68.00 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $70.50.

CHART FORMATION
 

Stock is in bullish trend for near term and price is sustaining above resistance trend line with good consolidation on daily intraday chart. Near term breach of resistance level of $68.00 is expected, which would trigger further bullish sentiment in the stock to test the levels of $70.50.

Detailed tecnical chart analysis of BED BATH & BEYOND INC
Technical chart



INDICATORS:-
 

RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.