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Bearish Moving Average Cross by Best Buy (BBY)

By David Diaz

Today, shares of Best Buy (NYSE:BBY) have crossed bearishly below their 10-day moving average of $34.05 on a volume of 1.8 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Best Buy share prices have moved between a 52-week high of $39.10 and a 52-week low of $25.31 and are now trading 31% above that low price at $33.08 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Best Buy on July 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.89. Since that recommendation, shares of Best Buy have risen 4.3%. We continue to monitor BBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Best Buy

Ticker(s): BBY