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Best Buy Co Inc Falls 1.06% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $87.29 to a high of $88.74. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $89.34 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Best Buy Co Inc share prices have moved between a 52-week high of $91.83 and a 52-week low of $55.84 and are now trading 59% above that low price at $88.70 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.4%.

SmarTrend recommended that subscribers consider buying shares of Best Buy Co Inc on October 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $71.37. Since that recommendation, shares of Best Buy Co Inc have risen 26.8%. 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