The Greedy Trader Weekly Analysis
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Best Buy Co., Inc. (BBY)

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Summary:
Weekly :Trend support at 70.96
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic bearish divergenceTrend resistance at 73.20
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It was a fifth positive week after 4 consecutive negative weeks for the Best Buy Co., Inc. (BBY). During the week, the BBY gained 2.16 points, or 3.10%, and closed at 71.89 on Friday, July 5, 2019. Weekly volume was -37% 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 Channel chart pattern. The price is near the trend support (70.96) line. The support is usually stronger when technical indicators are oversold. 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 support 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 Rising Pennant chart pattern. The trend support level is at 64.06 and resistance is at 73.38. A Rising Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Rising Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Pennant pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since May 31, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 24, 2019 at 75.91 and reached 61.58 on June 6, 2019. BBY lost 14.33 points, or 18.88%, in 43 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (73.20). 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 short-term trend.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 and Williams' Percentage Range help.

The daily MACD line is above its signal line since June 10, 2019.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.45
Williams' Percentage Range (W%R) 17.30
Overbought
Lane's Stochastic (%D-Slow) 81.44
Overbought Bearish
Greed/Fear Indicator (GFI) 78.54
Moving Average Converg./Diverg. (MACD) 0.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.40
Williams' Percentage Range (W%R) 24.20
Lane's Stochastic (%D-Slow) 37.01
Greed/Fear Indicator (GFI) 53.36
Moving Average Converg./Diverg. (MACD) 0.50
Trading Signals
Description Value Chart
Monthly Trendline Resistance 75.76
Upper Bollinger Band 73.76
Quarterly Trendline Resistance 73.38
Weekly Trendline Resistance 73.20
Daily Stochastic Crossing 71.98
Price 71.89
Yearly Trendline Support 70.96
Parabolic System 69.98
50 Day Moving Average 68.64
20 Day Moving Average 67.89
Weekly Stochastic Crossing 66.96
Quarterly Trendline Support 64.06
Lower Bollinger Band 63.72
Sector and Industry
Description Name Rank
Sector Services 4
Industry Electronics Stores 59
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 61.58
Low Date 06/06/2019
High 73.65
High Date 07/01/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 73.20
Support 54.57
High 75.91
High Date 04/24/2019
Low 61.58
Low Date 06/06/2019
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 75.76
Support 54.67
Low 47.72
Low Date 12/24/2018
High 75.91
High Date 04/24/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rising Pennant
Status Valid
Resistance 73.38
Support 64.06
High 84.37
High Date 08/22/2018
Low 47.72
Low Date 12/24/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 97.08
Support 70.96
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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