4BBY trade ideas
Target 97 - 110If it breaks above that nearest red trend line, then it will quickly move to 97, If it is not rejected around 97 then it can reach 110.
On the other hand, if the price is rejected at that bottom red trend line, then lower prices to come.
Best Buy $BBY#BESTBUY made higher high, pulling back now after fake brokeout. It holds above #RSI 50 and may bounce back after meets with 10SMA.
DOWNTREND PATTERNA Downtrend is characterized when the price action moves intermittently but with lower peaks and lower troughs over time.
Shortage of computer monitors in retail stores good for Best BuyEveryone stuck at home for several weeks (months?) working seems to have cause a run on home work (computer monitors for example) and entertainment. Reluctant to ride public transit or go to sporting events or travel, consumers not shy to visit stores carrying what they need to survive at home.
Best Buy Breakout Trade $bby
Stock looks destined to hit $100
Earnings approaching
Like every consumer stock there is obvious concerns on supply issues due to Coronavirus
RSI has plenty of room to run higher
BestBuy due for a little pullbackBought puts this morning. Beautiful set up. It will get impacted by china news. Good risk/reward. I would say 88.5 is a good target
BBY- Pop and drop?RSI from 1 hour to weekly overbought.
Expect to possibly see $93 range before dropping from this parabolic run. ~40% in 3 months. Could be wrong with the signing of Phase one though. On the short list coming up whenever the next correction occurs though.
The bigger they are the harder they fall.
Just speculation not advice.
BBY BULLISH FLAGBuyers have broken upper trend line to confirm a breakout to make a pattern of a bullish flag
Monday WatchlistThis looks like a nice pullback to a point of resistance. This could be a good entry for a climb to a new high if the market continues to melt up and we see any decent volume come in, especially since the retail sector has turned bullish this month (see XRT).
$BBY Overbought Possible up to 92-93 then correction to 77 Nice bull run after latest earning .. 88.8 was potential target which had been achieved .. above 88.8 92-93 will be potential target .. also possible to keep 88.8 as top and start drop directly but i indicators showing chance for other last jump then drop .
Best Buy Rallied. Here’s the PullbackElectronics chain Best Buy has been working hard not to become a dinosaur in the retail ecosystem. Following the model of larger rivals like Wal-Mart Stores and Target , BBY has used new services like product support and in-store pickup to keep shoppers in its locations.
The change worked last quarter, driving the stock decisively above $78 for the first time in more than a year. It’s now pulled back and retraced more than half that rally. Still, old resistance could be turning into support as BBY holds $78.
Like IWM yesterday , this level could provide an interesting risk/reward if traders are disciplined enough to cut losses below it. Above $78, trend followers may look to accumulate the retailer – especially with management optimistic about the holidays and new gadgets coming next year.
Best Buy Beats and RaisesEntry level $77.54 = Target price $83.98 = Stop loss $76.59
RSI in a strong well established uptrend.
Golden cross is a very bullish signal.
Guidance by the company is very bullish.
P/E ratio 13.41.
Company profile
Best Buy Co., Inc. provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. It also markets its products under the brand names: Best Buy, Audio visions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.
BBY Near testThe stock is forming a near test formation, i guess it should break the lvl, and if it will close under the lvl i will short it , using short stop.
BEST BUY - DAILY CHARTThe company braces itself for the busiest season for consumer spending that starts on the following weeks with the Black Friday, Cyber Monday and Thanksgiving, as today a survey showed that 82% of consumers have the intention to buy tech devices and accessories. These intentions might lift Best Buy results for next quarter and increase the speculation around the company.
Indicators - Moving average
When prices cross the Moving Average upwards it is a sign of purchase and conversely, prices cross the line of the mobile average downwards, it is a sign of sale.
Double Top
The graph shows a double cap for Best Buy CO INC shares, showing that peaks A and C have similar heights. You can also see the breaking of the support line and immediately the Pull Back
Head and shoulderThe graph shows an example of the head and shoulders for actions of Citigroup INC, where the shoulders (peak A and C) are of similar height, with peak B (head) being the highest. The distance between the head peak and the support line "X" and the Pull back at point D is shown with the purple arrow
O35.26, H35.70, L35.06 C35.40
BBY at ResistanceWatching to see if either at make or break. My guess would be due to MACD and Stoch that we will see it go up, but we know what a mess the weekend can cause during this trade war. Waiting for confirmation before buying in.
Best Buy rated with Strong Buy and $100 targetBest Buy resumed with a Strong Buy at Raymond James. Raymond James analyst Matthew McClintock resumed coverage of Best Buy with a Strong Buy rating and a price target of $100. The analyst is positive on the transition of the company's business model from selling only consumer electronic products to offering a range of other services, which he expects will create a "much more dependable, re-occuring, and higher margin revenue stream." McClintock adds that Best Buy can generate at least a 10% earnings per share growth per year over the next 5 years, along with a low-single-digit sales increase and a 10bps expansion in gross margins.
Source thefly
P/e ratio 12.07 Good value
Yield 2.99%
Short 2.95%
Average target price $73.48 Overweight
Company profile
Best Buy Co., Inc. provides consumer electronics, home office products, entertainment products, appliances and related services. It operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. It also markets its products under the brand names: Best Buy, Audio visions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. The company was founded by Richard M. Schulze in 1966 and is headquartered in Richfield, MN.
