4BBY trade ideas
Best Buy (BBY): looking solid before the earnings?www.finstead.com
Investors will be watching out for Best Buy's operational efficiency improvements under the new CEO Hubert Joly. The company's Renew Blue plan is shooting for accelerated online sales growth, improved multichannel customer experience, optimizing store square footage and US real estate portfolio. The company is also focused on gaining supply chain efficiencies, and cutting unnecessary selling, general, and administrative costs--necessary to compete in an evolving consumer electronics retail market.
Best Buy reaffirmed its position as a reliable operator in the evolving retail marketplace, following up its strong holiday results with 7.1% comps showing strength across several categories. Best Buy isn't just benefiting from favorable product cycles--mobile, appliances, computing, tablets, and smart home were called out as key drivers--and a healthy U.S. housing market, but also an improved in-store and online customer experience.
Out of the box$BBY is out of the box, consumer confidence theme continues? me think so, unless $AMZN interrupts
Best Buy near support5th sub-wave of 3th may be not finished since 3th wave is extended usually. Hence the target of 3th wave is about 80$. But if 3th wave is finished the target of next impulse wave is 41$. If support level 51.80 will be pierced, I guess it will mean the wave 3 is finished and this decrease is wave 4. Otherwise this decrease can be correction of the wave 3 and the target price 80$ is still actual.
BBY - Triple Top Decision Next WeekStrong passive hold, approaching a possible breakthrough on a triple top, or back into the 50 EMA to accumulate before another attempt.
BBY - Ranging or Sideways Price Action Equals Reversal AreasIf price action on a ranging or sideways chart goes above ZONE, set up sell trades, if price action goes below ZONE, then set up buy trades. Keep It Simple. Wish Best In Trading.
Best Buy Is Set To Drop Over Next 3-13 MonthsBest Buy is in Cycle Wave 4. The bottom of this wave should occur between July 25, 2018 and August 20, 2019. The bottom should occur between 52.12 and 63.5. These dates and numbers are based on comparative trend analysis and derivative analytics.
BBY sell off after dividends?BBY has historically had some selling after dividends have been calculated... BBY announced that 6/14/18 is the date... let's keep an eye on this one and see if a setup appears :)
Short to Mid-Term Bear - Strong Moving Average ConfluenceNYSE:BBY
WEEKLY: Uptrend remains intact. Strong fib level at 65 and if that level is broken, next fib level is 52.
DAILY: Both double-bottom and double-top patterns played out successfully although 2nd leg didn't reach the 66.50 level. Currently the 20/50/100 and potential gap fill may reach confluence, act as resistance, and push the stock lower to the 66.50/200MA level. 2nd support level is the $52.75 level which is when it broke out and also the 61.8% fib level. CCI/MACD is showing bullishness while OBV is flat so need to monitor the price levels and re-assess.
HOURLY: Semi-rounding base is present and bullish but still resistance factors are in play. CCI is a bit oversold and MACD/OBV is bullish. Will monitor if cup and handle pattern completes.
BBY Potential BreakoutThere are some bullish divergence developing with the lower high price but higher higher rsi. The price is very close to a pivot point to change direction also stacked with where the fib retrace line from the recent earnings dump.
Overall the fundamental for BBY is on the good side, it just that the stock has went up a lot lately with investors having too high of a expectation of the numbers.
BBY is a best buy lolTime to buy the dip. Down on better than expected earnings. No reason for this. If it goes down again, load up for a sell after Christmas.
Best Buy heading down to 66Best Buy gap down after earnings. It will most likely heads lowers to 66 (200-day moving average) before bouncing.
i think we can get some extra $ from this breakouti think we could get some more months of upwards movment, might even get 100$ , i think buying here is a good idea
BBY: Sort opportunity
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Best Buy SHORT!Best Buy SHORT!
I believe we will be in for a short on this stock.
I'm anticipating prices to reach highs of 72.00/74.00 with a sharp decline down to lows of 60.00 .
Next earning's 23/05/2018, estimated 0.73 .
Let's wait and see!
TP: 66.00/60.00
TRADE IDEA OF THE WEEK IN BEST BUY (BBY)Our trade Idea of the week is in Best Buy! It has some nice consolidation and is beginning to fire out of a daily squeeze. We believe that there is a good chance for the price to move to new highs!
We will have a smaller position just to take into account the recent volatility so that we do not get stopped out of a winning trade if we can control it!
Best of luck!
