BBBY (Bed, Bath & Beyond Inc.) will offer an objective long entry on a break above 46.71 with a suggested stop below 45 (or higher, if only targeting T1). T1 is 49.85 with T2, 52.68, as the current final target and a potential 3rd target around 56 which might be added, depending on how the charts develop going forward. The suggested beta-adjustment for this trade is 0.90.

BBBY daily Dec 6th

BBBY daily Dec 6th

While just recently coming off overbought readings on the daily time frame, BBBY is far from extended on the weekly time frame & appears to have just recently broken above a bullish falling wedge pattern. For those looking for an early entry on a partial or full position, a break above this triangle pattern and/or the 46.51 resistance level on the 60-minute chart below would offer an objective yet somewhat aggressive entry at a better price but with a slight increased risk of failure vs. waiting for a break above 46.71.