Best Buy to Fill previous gap?With this market correction, we can see that Best Buy (BBY) is down to a support very much nearing a previous gap from July 2020. If the market continues to Bear, it is likely we see that Best Buy will in turn fill the gap and potentially retest previous resistances (now supports). This move can take a few months, but the dip will be a nice buy for long term BBY.
Otherwise, if the market begins to recover, we could see Best Buy return to previous highs, RSI is quite low, MACD is beginning a bullish indication, however the Market is very volatile. Play this safe, and buy at support, and average down.
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