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BEST BUY DRN EDBEST BUY DRN EDBEST BUY DRN ED

BEST BUY DRN ED

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BBYY34 trade ideas

RectangleBBY looks to be trading in a rectangle. R (resistance) overhead and S (support) below at bottom trendline of the pattern.. There is a break-away gap below price that may provide a strong level of S if, and only if, this were to break down to that level.. A rectangle is a continuation pattern but can also be a reversal pattern.. Rectangles are like a horizontal channel. Price bumps it's head on the R above and saved by the S below. They do not go on forever though and price will break up or down eventually.. Targets are listed for a break down or a break up. Mid Rectangle can be a stop whichever way price decides to go... This can also be called a rectangle top because price entered from the bottom (creating a top). BBY has been traveling in a possible rising and narrowing channel for quite a while Guessing which way this will break can be a death wish until one of the trendlines are broken...Best to have at least 5 touches, 3 on one trendline and 2 on the other...If the rectangle is tal enough, folks sometimes swing trade inside of this pattern.
NYSE:BBY
by lauralea
6
BBY - November 21, 2020BBY has earnings Tuesday November 24, 2020 AMC. BBY has a very healthy balance sheet with only 1B in debt and 5B in cash. Last quarter BBY experienced online sales growth of 242% yoy. Expecting this trend to continue higher on earnings here with significant consumer purchases for home offices. We believe this quarter will also pose a higher retail growth due to more and more states opening up from lockdown. BBY is also undervalued relative to peers on a EV/EBITDA multiple basis posting a NTM 8.5x while the comps average is around 11.5x.
NYSE:BBYLong
by AptitudeFinancialAdvisory
BBY - MACD Crosses OverHey Traders, Best Buy has been having a nice bullish run. Best Buy's price for the past 8 days has increased by 5.5% . Furthermore, today the MACD indicator provided a bullish crossover. Typically, when the MACD crosses over the signal line, it is a bullish indication and when the MACD crosses below the signal line, it is a bearish indication. Let's see if it can break past $120 per share since that was a key level where price dropped a few weeks back. If it does, we might be looking at an extended rally. Options on BBY have been quiet, so its only technical analysis for now. REMEMBER: Reference to specific securities should not be construed as a recommendation to buy, sell or hold that security. Specific securities are mentioned for educational and informational purposes only. YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations.
NYSE:BBYLong
by UnknownUnicorn6775423
1