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Look for Shares of Best Buy Co Inc to Potentially Pullback after Yesterday's 1.82% Rise

By David Diaz

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $73.47 to a high of $75.14. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $73.75 on volume of 971,000 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.

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 57% above that low price at $74.90 per share. The 200-day and 50-day moving averages have moved 0.2% lower and 0.16% lower over the past week, respectively.

Keywords: rebounders best buy co inc

Ticker(s): BBY