Shares of Bed Bath & Beyond are screaming after the bell. The stock is up nearly 17%(earnings/outlook) tonight and is heading for a huge upside gap. After a string of 5 straight post earnings downside gaps, this is quite a reversal.
$BBBY has a very solid base underneath with a divergent MACD(daily) low.
The December high will serve as initial support($13.35).
There is plenty of fuel in the tank. Short interest ratio is 6.8.
$BBBY has a fairly clear path to $16.50(May low), the lower band of a very heavy supply zone.
We do not have a position in $BBBY