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Best Buy Co Inc Rises 1.18% on Heavy Volume: Watch For Potential Pullback

By David Diaz

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $68.43 to a high of $69.71. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $69.58 on volume of 650,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Best Buy Co Inc has traded in a range of $47.72 to $84.37 and is now at $69.55, 46% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Best Buy Co Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Best Buy Co Inc in search of a potential trend change.

Keywords: rebounders best buy co inc

Ticker(s): BBY