-- Home-goods retailer Bed Bath & Beyond's stock has wavered after it reported results. Here are the key levels to know now. --

By Bret Kenwell, TheStreet.com

Bed Bath & Beyond (BBBY) stock has been fighting off a tough open.

The stock on Wednesday opened more than 12% lower following the Union, N.J., home-goods retailer's earnings report. But the shares are now back to flat on the day, erasing the early drop.

The company posted a loss for its holiday quarter, which caught investors off-guard.

The fourth-quarter loss of 92 cents a share missed estimates calling for profit of 4 cents a share. Revenue of $2.05 billion missed expectations of $2.075 billion.

The cause? As reported at TheStreet, "supply chain snarls kept inventory stuck in warehouses and shipping ports and blunted overall sales growth."

Outside of earnings, Bed Bath & Beyond stock has been in focus as Ryan Cohen, GameStop's (GME) chairman and co-founder and former CEO of pet-care provider Chewy (CHWY) last month took a notable stake in the company.

A few weeks later, Cohen received seats on the board.

Trading Bed Bath & Beyond Stock

Daily chart of Bed Bath & Beyond stock

Chart courtesy of TrendSpider.com

With the stock rallying off the lows, investors want to know whether this morning's knee-jerk reaction was an overreaction.

BBBY stock has already filled the post-earnings gap up to $17.80.

If today's reaction was an overreaction, we'll see Bed Bath & Beyond stock fill the gap and hold it. If it does that, a move back up to the 50-day and declining 10-day moving average could be in the cards, up near $19 to $19.50.

That would be a significant rally, even from today's high.

At the same time, now that the stock has filled the gap, many traders may look at today's move as completed. If that's the case, today's low at $15.75 remains vulnerable.

Below $15 could open the door down to $12.50, which has been significant support for Bed Bath & Beyond stock. Notable support has ranged $12.50 to $13.50.

Keep in mind: We're in a tough market environment. And while some retail stocks have been performing well -- like Costco (COST) and Walmart (WMT) that doesn't mean all retailers are created equal.

Plus, Bed Bath & Beyond just gave us a disappointing quarter. Let's see how it handles $17.80. Below it and this stock remains vulnerable.

From TheStreet.com