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Best Buy Co Inc Rises 3.90% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $68.17 to a high of $73.65. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $69.82 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Best Buy Co Inc share prices have moved between a 52-week high of $84.37 and a 52-week low of $47.72 and are now trading 53% above that low price at $72.78 per share. The 200-day and 50-day moving averages have moved 0.38% lower and 0.78% lower over the past week, respectively.

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.

Keywords: rebounders best buy co inc

Ticker(s): BBY