BBY Double bottom Weekly
BBY is gearing up for a large move.
One direction or another the move BBY is cooking will be nice and quick, with follow-through hopefully into the next week.
On the left we see that BBY has completed a double bottom it's almost textbook.
I suspect we will consolidate into tomorrow afternoon on BBY.
The daily chart seems to confirm this with a similar double bottom. We have crossed the daily 200ema (Yellow Line).
On the weekly chart (left) we see that BBY has a higher volume this week than last.
Our retest of the weekly 8 ema and bounce off that level are a very bullish indicators.
Looking at the daily chart (right)
We see the break above the daily 200ema (yellow line)
We see this level tested and confirmed several times.
With a final bounce towards resistance @87.
As stated above I think BBY will consolidate in this range for the coming days and hopefully with the cooperation of the SPY break out and up.
This is invalidated with a break below the $78.60 area
I believe the pattern is confirmed with a move above 86.46. The move has to be on high volume and with conviction. Until then I think we stay in the 78.60-86.46 range. (this is a broad range)
Intraday targets are in this range, swing targets are outside of these ranges.
One direction or another the move BBY is cooking will be nice and quick, with follow-through hopefully into the next week.
On the left we see that BBY has completed a double bottom it's almost textbook.
I suspect we will consolidate into tomorrow afternoon on BBY.
The daily chart seems to confirm this with a similar double bottom. We have crossed the daily 200ema (Yellow Line).
On the weekly chart (left) we see that BBY has a higher volume this week than last.
Our retest of the weekly 8 ema and bounce off that level are a very bullish indicators.
Looking at the daily chart (right)
We see the break above the daily 200ema (yellow line)
We see this level tested and confirmed several times.
With a final bounce towards resistance @87.
As stated above I think BBY will consolidate in this range for the coming days and hopefully with the cooperation of the SPY break out and up.
This is invalidated with a break below the $78.60 area
I believe the pattern is confirmed with a move above 86.46. The move has to be on high volume and with conviction. Until then I think we stay in the 78.60-86.46 range. (this is a broad range)
Intraday targets are in this range, swing targets are outside of these ranges.
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