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BBYY34 trade ideas

BBY | Possible Cup and Handle | LONGBest Buy Co., Inc. retails technology products in the United States and Canada. The company operates in two segments, Domestic and International. Its stores provide computing products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness, home theater, portable audio comprising headphones and portable speakers, and smart home products. The company's stores also offer appliances, such as dishwashers, laundry, ovens, refrigerators, blenders, coffee makers, and vacuums; entertainment products consisting of drones, peripherals, movies, music, and toys, as well as gaming hardware and software, and virtual reality and other software products; and other products, such as baby, food and beverage, luggage, outdoor living, and sporting goods. In addition, it provides consultation, delivery, design, health-related, installation, memberships, repair, set-up, technical support, and warranty-related services. The company offers its products through stores and websites under the Best Buy, Best Buy Ads, Best Buy Business, Best Buy Health, CST, Current Health, Geek Squad, Lively, Magnolia, Best Buy Mobile, Pacific Kitchen, Home, and Yardbird, as well as domain names bestbuy.com, currenthealth.com, lively.com, yardbird.com, and bestbuy.ca. As of January 30, 2022, it had 1,144 stores. The company was formerly known as Sound of Music, Inc. The company was incorporated in 1966 and is headquartered in Richfield, Minnesota.
NYSE:BBYLong
by DivergenceSeeker
2
BBY - emerging uptrendConfluence of factors to support this view: 1. golden crossed on 4Jan23 2. 200 day MA is now flattening out 3. beginining to break out of a 2 month sideway consolidation (>86.89) It is possible that the stock could dip back briefly into the consolidation range in the near future but we are likely to see a higher low should this happen. Disclaimer: Just my 2 cents based on pure TA and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
NYSE:BBYLong
by Juliac
BBY daily - likely down legs soonBBY is a bearish/weak fundamental stock, therefore, we would trade it only in a short position. BBY daily is in some kind of rising wedge which is a bearish pattern. The price is at the resistance line which could indicate imminent correction. RSI is in oversold territory and has bearish divergences what is bearish. MACD histogram tick is moving higher and the MACD line is over the signal line which could be bullish, however, MACD to has negative divergences that indicate relative weakness of the stock movement. Overall: most of the indicator point to oversold price territory and the possibility for stock to drop. With a close below the blue dotted trend line, BBY would open the possibility for a short position with a stop loss above the last 3 days' high.
NYSE:BBY
by Consistent_Trades
BBY Double bottom WeeklyBBY 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.
NYSE:BBYLong
by Battle-Trading
Rising Wedge(s)BBY appears to have a rounded bottom but did not break the high of the left side of the pattern successfully. I do not see a "pointy" W in the rounded bottom, but the cup pattern has failed so far. Rising wedges a long the way and Price has broken the support line of the 1st wedge. There is another wedge lower but it is not valid as it is not broken, yet. Rising wedges cause an over-supply issue at that level. I guess folks just get a bit too excited sometimes. (o: )o: A chart is just an x-ray of supply and demand. No recommendation. Short interest is around 4.5%
NYSE:BBY
by lauralea
Earnings Watch 11/21-11/23Earnings Watch 11/21-11/23: Monday ZM DELL Tuesday BBY DLTR DKS CSIQ JWN HPQ Wednesday DE Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends... *3x lucky 7s of trading* 7pt Trading compass: Price action, entry/exit Volume average/direction Trend, patterns, momentum Newsworthy current events Revenue Earnings Balance sheet 7 Common mistakes: +5% portfolio trades, capital risk management Beware of analyst's motives Emotions & Opinions FOMO : bad timing, the market is ruthless, be shrewd Lack of planning & discipline Forgetting restraint Obdurate repetitive errors, no adaptation 7 Important tools: Trading View app!, Brokerage UI Accurate indicators & settings Wide screen monitor/s Trading log (pencil & graph paper) Big, organized desk Reading books, playing chess Sorted watch-list Checkout my indicators: Fibonacci VIP - volume Fibonacci MA7 - price pi RSI - trend momentum TTC - trend channel AlertiT - notification tickerTracker - MFI Oscillator www.tradingview.com
NYSE:BBY
by Options360
Why is short interest in Best Buy less than its peers? What is the short interest in consumer electronics retailer Best Buy (NYSE: BBY) ahead of its second-quarter financial results on August 30? On the last trading day, Best Buy had roughly 12 million shares in short interest, reflecting 5.97% of its outstanding shares. By midday Aug. 19, 5.5 million Best Buy shares are available to be shorted, according to management consulting company Fintel. BBY stock dipped nearly 4% at close of trading Aug. 19 and had another marginal decline at the start of this week. The company’s stock was almost in the green last week, after peaking at $86.35 on Tuesday, and creating a new multi-month high. However, BBY eventually closed lower on the week thanks in part to the aforementioned 4% drop. Keeping off the most shorted list Despite the challenges it had to endure, Best Buy remains absent from the list of most shorted stocks. The list of stocks on the most-shorted list in August, include Intercept Pharmaceuticals (NASDAQ: ICPT), Bed Bath & Beyond (NASDAQ: BBBY), MicroStrategy (NASDAQ: MSTR), WeWork (NYSE: WE), Upstart (NASDAQ: UPST), and Beyond Meat (NASDAQ: BYND). All the above stocks have short interest above 35.00% of its outstanding shares. Best Buy's peer group average for short interest as a percentage of float is 25.57%, which means it has far less short interest than most of its peers. Second-quarter outlook Like other retailers, the company is sailing in murky waters given current macroeconomic conditions. High inflation rate, interest hikes and even energy cost could add more challenges to these companies. For Best Buy, some think the company's revenue and profitability are on-track to recovery after record-lows in the first quarter, setting the stage for a long-term rebound after bottoming in July. However, Best Buy, may not be so bullish in its own outlook. BBY is slated to announce second-quarter results on August 30 and it expects to report a roughly 13% decline in comparable sales and an approximately 7.5% hike in revenue compared with the pre-pandemic second quarter of fiscal-year 2022. Best Buy CEO Corie Barry said, "as high inflation has continued and consumer sentiment has deteriorated, customer demand within the consumer electronics industry has softened even further, leading to Q2 financial results below the expectations we shared in May." The company also plans to suspend share buybacks but assured the payment of quarterly dividends.
NYSE:BBY
by BlackBull_Markets
$BBY a "Best Buy" at these prices Best Buy is looking very attractive at these levels currently trading at a 8 PE ratio with over a 4% dividend yield at a 33% payout ratio. It is currently being priced for flat to declining revenue in the short term. Regardless of this their fundamentals are very strong and financials are very healthy so even in this scenario they will be returning capital to shareholders though dividends and buy backs which they have a very robust balance sheet to support. Their interest expense is near non existent so they will not be negatively from rising rates and will have access to cheap capital if they ever need it. Additionally they have a very high ROIC around 25% while WACC is sub 10% so they are in a very financially good position to take advantage of any growth opportunities. Technically they are near their bottom channel puncturing the weekly moving averages and is testing a former consolidation area from 2017-2020
NYSE:BBYLong
by Yogigolf
3