The Greedy Trader Weekly Analysis
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Best Buy Co., Inc.
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal line
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY dropped -1.20 points, or -1.60%, and closed at 73.57 on Friday, April 12, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -45% below 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 (40.50) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 uptrend had started on January 15, 2016 at 25.31 and reached 84.37 on August 22, 2018. BBY gained -59.06 points, or -233.35%, in 135 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 50.00 and resistance is at 96.65. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 15, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See BBY short-term trend chart]
A short-term downtrend had started on April 10, 2019 at 75.53 and reached 73.43 on April 12, 2019. BBY lost 2.10 points, or 2.78%, in 2 days. The price is now at the 6.67% retracement level.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.31
Williams' Percentage Range (W%R) 19.20
Overbought
Lane's Stochastic (%D-Slow) 75.73
Greed/Fear Indicator (GFI) 74.96
Moving Average Converg./Diverg. (MACD) 2.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.29
Strong Overbought
Williams' Percentage Range (W%R) 5.10
Strong Overbought
Lane's Stochastic (%D-Slow) 90.74
Strong Overbought
Greed/Fear Indicator (GFI) 85.55
Overbought
Moving Average Converg./Diverg. (MACD) -1.41
Trading Signals
Description Value Chart
Upper Bollinger Band 75.66
Daily Stochastic Crossing 74.47
Weekly Stochastic Crossing 74.11
Parabolic System 73.61
Price 73.57
20 Day Moving Average 72.05
Lower Bollinger Band 68.07
50 Day Moving Average 66.82
Sector and Industry
Description Name Rank
Sector Services 3
Industry Electronics Stores 154
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 75.53
High Date 04/10/2019
Low 73.43
Low Date 04/12/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.72
Low Date 12/24/2018
High 75.53
High Date 04/10/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 Broadening Ascending Wedge
Status Valid
Resistance 96.65
Support 50.00
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 33.85
Support 40.50
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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