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Best Buy Co Inc Rises 3.40% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $66.28 to a high of $68.65. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $68.50 on volume of 938,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Best Buy Co Inc and will alert subscribers who have BBY in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Best Buy Co Inc share prices have been bracketed by a low of $47.72 and a high of $84.37 and are now at $68.45, 43% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.6%.

Keywords: rebounders best buy co inc

Ticker(s): BBY