• Return to Headlines

After Yesterday's Rally of 1.15% Shares Could Potentially Pullback

By David Diaz

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $66.67 to a high of $67.99. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $67.30 on volume of 497,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Best Buy Co Inc share prices have been bracketed by a low of $29.05 and a high of $67.99 and are now at $67.81, 133% 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.

SmarTrend recommended that subscribers consider buying shares of Best Buy Co Inc on November 30th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.76. Since that recommendation, shares of Best Buy Co Inc have risen 12.3%. We continue to monitor BBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders best buy co inc

Ticker(s): BBY