- Summary:
- Build a bear stock price action continues to press towards new highs, as the $20 mark appears to the new target for bulls this Wednesday.
Build a Bear stock price continues to feed off the stellar first quarter 2021 results it posted a week ago.
The earnings report had indicated an increase in revenues and pre-tax income that exceeded the results of the first quarters of the 2019 and 2020 fiscal years. This allowed the company to earn 66 cents per share for the period under review.
Revenue-wise, there is an optimistic forward projection for revenue to exceed 2019’s total revenue of $338.5 million due to the 96.7% increase in the first quarter revenues to $91.7 million.
Technical Levels to Watch
The 19.40 price high seen on 1 June remains the record high for the Build a Bear stock price. A brief pullback ensued, but the bulls seem to have reappeared as the price has surged 10.69% in the last 4 hours.
This puts the resistance at 19.40 under renewed pressure. If this barrier is uncapped, then Build a Bear stock price may target the 50% Fibonacci extension from the price swing of 10 May to 28 May at 20.52, with 21.79 (61.8% Fibo extension) and 23.59 (the 61.8% Fibo extension) all serving as potential upside targets.
On the flip side, a rejection at the immediate resistance sets up another pullback move, targeting 17.88 initially before 15.16 becomes the new target if the decline continues. 14.03 and 10.45 are potential additional targets to the south.
Build a Bear; 4-hour Chart
