Comments on: BBBY Trade Update, Indicated to Gap Lower

By: rsotc

rsotc — Thu, 22 Dec 2016 15:49:29 +0000

Here's a look at the 1-minute chart of BBBY showing the big red candle at the open which is the result of order imbalances (many more sell order than buy orders that must be filled immediately):L

By: rsotc

rsotc — Thu, 22 Dec 2016 15:28:59 +0000

In reply to Gaucho.

Since the stops were not officially revised & well in advance for all to act on & BBBY exceeded the suggested stop, it will be considered stopped out at the opening price of 44.29.
Personally I am not using a stop of any move below the low of 42.60 & plan to periodically raise that stop up to the 45.00 level (and possibly beyond) should BBBY rise from here.
Should the stock recover & depending on the nature of that recovery (for example if it were very impulsive or if a very bullish candlestick & follow-up stick were printed today & Monday), then I might hold out for the former price targets. Otherwise, a backfill of today’s gap (i.e.- a move up to yesterday’s low) would be the first logical price target & then the 46.30-46.70 resistance zone.

By: jupiter

jupiter — Thu, 22 Dec 2016 15:03:32 +0000

Hi, Please reread Randy’s complete note on BBBY. He said to put stop at the low of the gap down (42.60) keep it there (knowing you might get stopped at a lower stop price and lose more), but more often than not it might go up (though it is not going up right now). If in a few hours it continues to climb, then move stop to the old stop and keep target) But do reread his note. Hope this helps.

By: Gaucho

Gaucho — Thu, 22 Dec 2016 14:50:56 +0000

Hi Randy, @rsotc questions: now is 43.65 a moving up. a) Till now 20 min after the open the low was 42.60, is this will be the new stop loss? b) And the targets remain the same or are moved down? Regards