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Best Buy Crosses Above its 10-day MA (BBY)

By Shiri Gupta

Today, shares of Best Buy (NYSE:BBY) have advanced above their 10-day MA of $31.87 on a volume of 1.4 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Best Buy have traded between a low of $25.31 and a high of $39.34 and are now at $32.63, which is 29% above that low price. The 200-day and 50-day moving averages have moved 0.12% lower and 0.78% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Best Buy on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.01. Since that recommendation, shares of Best Buy have risen 5.2%. 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