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Best Buy Co Inc Set to Possibly Pullback After Yesterday's Rally of 1.18%

By James Quinn

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.

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.

In the past 52 weeks, shares of Best Buy Co Inc have traded between a low of $47.72 and a high of $84.37 and are now at $69.55, which is 46% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders best buy co inc

Ticker(s): BBY