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Archive
- 1/24/2025 -
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Best Buy Co., Inc. (BBY) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Best Buy Co., Inc. (BBY). During the week, the BBY gained 2.83 points, or 3.46%, and closed at 84.73 on Friday, January 24, 2025. It was the best weekly gain since November 15, 2024. Weekly volume was -30% below average.
 Long-term trend: [See BBY long-term trend chart]
A long-term uptrend had started on November 10, 2023 at 62.30 and reached 103.71 on August 29, 2024. BBY gained -41.41 points, or -66.47%, in 41 weeks. The price is now at the 45.83% retracement level.
 Medium-term trend: [See BBY medium-term trend chart]
A medium-term downtrend had started on August 29, 2024 at 103.71 and reached 81.19 on January 17, 2025. BBY lost 22.52 points, or 21.71%, in 20 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 80.18 and resistance is at 86.77. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since October 25, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See BBY short-term trend chart]
A short-term uptrend had started on January 17, 2025 at 81.19 and reached 86.47 on January 24, 2025. BBY gained -5.28 points, or -6.50%, in 7 days. The price is now at the 32.95% retracement level.
 Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See BBY candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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