The Greedy Trader Weekly Analysis
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Daily D%-Slow:> 80
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Lane's Stochastic (%D-Slow)

The Lane's Stochastic indicator developed by George Lane is one of the most useful and widely used momentum oscillators in technical analysis. Lane's Stochastic oscillator uses four indicators to combine relative strength with moving average methods. %K is an un-smoothed RSI. %D is a moving average of %K (fast stochastic). %D-Slow is a longer term moving average of %K, and finally %D-Slow (slow stochastic) Moving Avg. is another moving average. Like other overbought oversold oscillators, they are normalized within a scale of 0 to 100. Buy/sell signals are generated by %D stochastic crossover with its moving average above 80%, for overvalued, or below 20%, for undervalued stocks. The divergence between price and indicator is the most important buy/sell stocks trading signal. Lane's Stochastic bullish divergence/bearish divergence should be considered together with other stock market trading alerts, trading indicator and technical trading techniques.

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- 3/15/2024 -
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Best Buy Co., Inc. (BBY) Technical Analysis

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Summary:
Weekly :Trend resistance at 76.80
Daily :Daily  MACD line has moved below its signal line
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It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY gave back -0.56 points, or -0.71%, and closed at 78.02 on Friday, March 15, 2024. BBY was trading at average weekly trading volume.

Long-term trend: [See BBY long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 93.32 and reached 62.30 on November 10, 2023. BBY lost 31.02 points, or 33.24%, in 40 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (76.80). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See BBY medium-term trend chart]
A medium-term uptrend had started on November 10, 2023 at 62.30 and reached 86.11 on February 29, 2024. BBY gained -23.81 points, or -38.22%, in 15 weeks. The price is now at the 33.98% retracement level.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. 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 February 29, 2024 at 86.11 and reached 74.92 on March 6, 2024. BBY lost 11.19 points, or 13.00%, in 6 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily technical indicators are neutral.

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.42
Williams' Percentage Range (W%R) 67.40
Lane's Stochastic (%D-Slow) 35.17
Greed/Fear Indicator (GFI) 40.74
Moving Average Converg./Diverg. (MACD) 0.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.76
Williams' Percentage Range (W%R) 38.70
Lane's Stochastic (%D-Slow) 54.62
Greed/Fear Indicator (GFI) 55.52
Moving Average Converg./Diverg. (MACD) 0.13
Trading Signals
Description Value Chart
Parabolic System 82.24
Upper Bollinger Band 81.03
Weekly Stochastic Crossing 78.78
Price 78.02
20 Day Moving Average 77.16
Daily Stochastic Crossing 77.14
Quarterly Trendline Resistance 76.80
50 Day Moving Average 75.36
Lower Bollinger Band 73.17
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Computer & Electronics Retail 37
Daily Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
High 86.11
High Date 02/29/2024
Low 74.92
Low Date 03/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.66
Low Date 01/19/2024
High 86.11
High Date 02/29/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.30
Low Date 11/10/2023
High 86.11
High Date 02/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 76.80
Support 57.18
High 93.32
High Date 02/02/2023
Low 62.30
Low Date 11/10/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 141.97
High Date 11/22/2021
Low 60.79
Low Date 10/13/2022
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.