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Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 12970.35 with take profit at 12997.38
Bearish Preference:
A Sell position is envisaged if price trades below price 12897.11 with take profit at 12854.62
Fundamentals:
2:45 PM Flash Services PMI
Comment:
Bed Bath & Beyond (NASDAQ:BBBY) shares climbed as much as 7% in premarket trading on Tuesday as the seller of home goods beloved by retail investors stages a rebound after three days of fierce declines. As of last close, shares in the firm had fallen 60% since the latest so-called meme-stock rally peaked last Wednesday. The plunge followed the disclosure by the company’s top investor Ryan Cohen that he was selling his stake, while a report that suppliers were restricting or halting shipments after the firm fell behind on payments contributed to the declines.
Analysis: SCRUM Team
