Watch This BBBY Intra-day Bounce Level
One leading retail stock that is declining lower today is Bed Bath & Beyond Inc. (NASDAQ: BBBY). Today, the stock is dropping by $1.80 to $75.57 a share. This stock is displaying weak relative strength to the major stock indexes today, so it is certainly vulnerable to lower prices during today's trading session. Day traders should look for decent intra-day chart support around the $74.70 level if the stock declines further throughout the trading day.
Often many traders look for fancy chart drawings with tons of irrelevant things written all over them, such as all these useless indicators and information. To be honest, all of that information is only good for selling "how to" books - not making money from trading. The best way to trade is to be simple and find a level that can actually make you money, rather than distracting yourself with tons of useless information on the charts.
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