The Greedy Trader Weekly Analysis
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Best Buy Co., Inc.
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Summary:
Weekly :Broken trend resistance lineLane's Stochastic is oversold
Daily :Lane's Stochastic is overboughtThe price moved above the moving average in the center of the Bollinger Bands
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It was a third positive week after 3 consecutive negative weeks for the Best Buy Co., Inc. (BBY). During the week, the BBY gained 3.76 points, or 7.13%, and closed at 56.51 on Friday, January 11, 2019. Weekly volume was 13% above average.

Long-term trend: [See BBY long-term trend chart]
A long-term uptrend had started on December 27, 2012 at 11.20 and reached 84.37 on August 22, 2018. BBY gained -73.17 points, or -653.30%, in 294 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (39.43) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See BBY medium-term trend chart]
A medium-term downtrend had started on August 22, 2018 at 84.37 and reached 47.72 on December 24, 2018. BBY lost 36.65 points, or 43.44%, in 17 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 52.78 and resistance is at 61.45. 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. 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 September 7, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively 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 December 24, 2018 at 47.72 and reached 58.28 on January 9, 2019. BBY gained -10.56 points, or -22.13%, in 16 days. The price is now at the 16.76% retracement level.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since December 28, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.46
Williams' Percentage Range (W%R) 21.60
Lane's Stochastic (%D-Slow) 88.97
Overbought
Greed/Fear Indicator (GFI) 78.60
Moving Average Converg./Diverg. (MACD) -2.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.04
Williams' Percentage Range (W%R) 76.30
Lane's Stochastic (%D-Slow) 13.47
Oversold
Greed/Fear Indicator (GFI) 25.68
Moving Average Converg./Diverg. (MACD) -2.93
Trading Signals
Description Value Chart
Monthly Trendline Resistance 61.45
Upper Bollinger Band 61.06
50 Day Moving Average 60.87
Daily Stochastic Crossing 57.37
Price 56.51
Parabolic System 54.89
20 Day Moving Average 53.25
Monthly Trendline Support 52.78
Weekly Stochastic Crossing 50.98
Lower Bollinger Band 50.12
Sector and Industry
Description Name Rank
Sector Services 4
Industry Electronics Stores 16
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 58.28
High Date 01/09/2019
Low 55.12
Low Date 01/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.72
Low Date 12/24/2018
High 58.28
High Date 01/09/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 61.45
Support 52.78
High 84.37
High Date 08/22/2018
Low 47.72
Low Date 12/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.31
Low Date 01/15/2016
High 84.37
High Date 08/22/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 34.35
Support 39.43
Low 11.20
Low Date 12/27/2012
High 84.37
High Date 08/22/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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