Bed Bath & Beyond (BBBY), which is part of the important retail group, is showing strength with a gap and surge. Notice that this gap-surge came after the stock formed a doji and then a bullish engulfing. The doji signals indecision and the bullish engulfing is a bullish candlestick reversal pattern. Today's follow through confirms this pattern.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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