Bath & Body Works Inc

BBWI remains in a structurally bearish Stage 3 downtrend, trading well below all key moving averages. The recent Bearish Exhaustion pattern signals a tactical bottoming bounce but does not imply a sustained reversal. We will trim exposure on rallies into the $18.85–$19.00 zone near the 9- and 20-day EMAs and horizontal resistance. A sustained reclaim and acceptance above the 50-day and 200-day SMAs would invalidate the bearish bias.

• ↑Earnings yield of 2.20% suggests undervaluation versus peers
• ↑Loyalty program grew to 40 million members, underpinning recurring sales
• ↓Net sales declined 2.3% YoY, highlighting sustained retail competition