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BBYY34 trade ideas

Best Buy Cup & HandleBest Buy is setting up a cup and handle pattern as we close out October. Displayed in the chart the same setup happened last year from end of November through January and bounced off the 50 day EMA early February. Price consolidated, broke down over a 22 day span then bounced up for a 12% increase after forming the handle. The same exact setup is forming in the chart again this year accept a little earlier from August through October. Watch price over the next 3 weeks, or 21 days to retreat to the neckline and bounce off the 200 day EMA around the beginning of December shortly after earnings for another 12% increase after breaking above neckline. BBY has reported positive earnings 4 out of the last 5 Qtrs. Please like if you agree, please comment if you disagree. `Happy Trading
NYSE:BBYLong
by bmarsland88
2
Best Buy may be heading down near-termBased on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on August 9, 2021 with a closing price of 112.54. If this instance is successful, that means the stock should decline to at least 111.3 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 4.2515% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 8.478% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 15.7105% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well. The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 35 trading bars after the signal. A 1% decline must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 3.0 trading bars; half occur within 13.0 trading bars, and one-quarter require at least 25.5 trading bars. The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement. At the time of this publishing, the stock has already reached the top of the small red box and may be in the early stages of the short-term forecasted decline. As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
NYSE:BBYShort
by StockSignaler
BBY Bestbuy Trades to watch for this week #1I am going to post about 5 trades or more to watch for every week. Rules are simple. Step 1-Watch price action wait for it to respect the trendline...Preferably the bottom trend line. Step 2-When price stops, bounces, wicks back up over the trend line. That would be your first sign to get in. Step 3-If you are more patient or skeptical, wait for price to move away from the trendline and then come back to it. When it repeats the Step 2, that's your trigger to get in. Step 4-Make sure you have at least 30 days on whatever option you are picking. Step 5- Try to pick a strike price that is at least the last previous High or the top of the candle after a gap down. (AkA in the money or slightly out of the money no more than that.) if you have any questions please feel free to comment below on whatever it is and I will be sure to answer. If you aren't asking questions you aren't learning. by iCantw84it 05.24.2021
NYSE:BBYLong
by iCantw84it
6
BBY: Strong Base as Best Buy Beta Rolls OutWith Best Buy launching it's new Best Buy Beta subscription in 6 states and 60 stores, the market seems to be interested in the potential here as it takes on the likes of Amazon Prime and Walmart+. The number of U.S. startups boomed nearly 25% in 2020 – to 4.3 million from 3.5 million as jobs report numbers were a massively disappointment. Could be central to a paradigm shift in the country towards entrepreneurial work. Wouldn't mind keeping this one around, especially seeing it's relative strength against the retail index (XRT) starting to pick up and potentially breaking out.
NYSE:BBYLong
by Fox_Technicals