Bed Bath & Beyond Inc.’s share price was heavily penalized and is now in an oversold situation near to a solid support area.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its EPS revision and its business predictability.

Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 61.5 area. The stock should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 67.25.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in Bed Bath & Beyond. A first target price will be the USD 67.25 resistance. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 67.25 would validate a bullish trend in order to aim a higher target price.