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.

• ↑Loyalty program reaches 39 M members, boosting trip frequency
• ↑International net sales rose ~9% YoY, nearing $1 B in retail sales
• ↓Net sales fell 3% YoY in Q4 on competitive pressures