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Next Resistance Level for Best Buy Co Inc (BBY) is $75.68

By Nick Russo

Shares of Best Buy Co Inc (NYSE:BBY) have bullishly opened above the pivot of $74.59 today and have reached the first resistance level of $75.19. Should the shares continue to rise, the resistance pivots of $75.68 and $76.77 will be of interest.

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 58% above that low price at $75.35 per share. The 200-day and 50-day moving averages have moved 0.16% lower and 0.03% higher over the past week, respectively.

Best Buy Co Inc (NYSE:BBY) is currently priced 6.1% above its average consensus analyst price target of $70.76. The stock should discover initial support at its 50-day moving average (MA) of $68.54 and subsequent support at its 200-day MA of $66.29.

SmarTrend recommended that subscribers consider buying shares of Best Buy Co Inc on July 1st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.28. Since that recommendation, shares of Best Buy Co Inc have risen 3.4%. We continue to monitor BBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts best buy co inc

Ticker(s): BBY