Technical outlook – The Baby Bunting (BBN) appears to have hit a few ‘bumps in the road’ over the past three months, and now since rejecting the region of $4.03 at the beginning of this month.
Although we view this stock as a potential buy, it is assessed from the daily timeframe that (BBN) is likely to stage a course correction back to $3.30 (as a measured move). If demand can overpower the bearish trend from here, then we anticipate a bullish correction.
Company Overview – Baby Bunting (BBN) has a retail store and online store of baby goods. They primarily cater to parents with children from newborn to three years of age.
The company operates a network of 33 stores across all Australia. Baby Bunting’s principal product categories include prams, cots and nursery furniture, car safety, toys, babywear, feeding, nappies, Manchester and associated accessories. They have more than 6000 products.