This story was originally published here.
The market opened with a dip on Friday, but bulls were quick to bid it back up. That said, let’s have a look at a few top stock trades.
Top Stock Trades for Monday No. 1: Bed Bath & Beyond (BBBY)
You remember our good friend Bed Bath & Beyond (NASDAQ:BBBY), right? This one has been flagged multiple times, in a newsletter and even selected as a stock of the year candidate.
Well, BBBY stock just keeps on going, as its short interest has fueled a strong move to the upside.
Earlier this year, shares shook off a disappointing earnings reaction after breaking out over resistance. The rise has been impressive since, as shares powered through the prior 2020 highs near $26.
Now hitting the 161.8% extension of the recent range (within a penny!), BBBY stock is backing off a bit. From here, I want to see $25 to $26 act as support. Over Friday’s high, and a run toward $40 is possible. Story continues here.
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Sincerely,
Louis Navellier
Senior Quantitative Analyst, InvestorPlace
