|
|
Computer & Electronics Retail Industry Stocks Technical Analysis - BBYArchive
- 11/8/2024 -
Sign In to see current Signals. |
Best Buy Co., Inc. (BBY) Technical Analysis
|
 |
| Summary:
| | | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY dropped -1.70 points, or -1.87%, and closed at 89.20 on Friday, November 8, 2024. BBY was trading at average weekly trading volume.
 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 35.04% 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 85.81 on November 6, 2024. BBY lost 17.90 points, or 17.26%, in 9 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 85.36 and resistance is at 103.16. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge 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 October 25, 2024. This is an indication that the medium-term trend is down. 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 November 6, 2024 at 85.81 and reached 91.54 on November 7, 2024. BBY gained -5.73 points, or -6.68%, in 1 days. The price is now at the 40.84% retracement level.
Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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 daily MACD line is below its signal line since September 17, 2024. The distance between MACD and the signal line is low and getting smaller.
| |
|
|