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Recent 52-Week High Exceeded in Shares of Best Buy Co Inc (BBY)

By Shiri Gupta

Best Buy Co Inc (NYSE:BBY) traded today at a new 52-week high of $79.90. This new high was reached on below average trading volume as 536,000 shares traded hands, while the average 30-day volume is approximately 3.4 million shares.

In the past 52 weeks, Best Buy Co Inc share prices have been bracketed by a low of $29.05 and a high of $79.90 and are now at $79.42, 173% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Best Buy Co Inc (NYSE:BBY) is currently priced 6.8% above its average consensus analyst price target of $74.00. The stock should discover initial support at its 200-day moving average (MA) of $32.44 and subsequent support at its 50-day MA of $32.36.

Best Buy Co., Inc. retails consumer electronics, home office products, entertainment software, appliances, and related services through its retail stores, as well as its web site. The Company also retails pre-recorded home entertainment products through retail stores.

SmarTrend recommended that subscribers consider buying shares of Best Buy Co Inc on April 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.54. Since that recommendation, shares of Best Buy Co Inc have risen 8.4%. We continue to monitor BBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows best buy co inc

Ticker(s): BBY