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SmarTrend Watching for Potential Pullback in Shares of Best Buy Co Inc After 1.82% Gain

By James Quinn

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.

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 $74.90, 57% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has slid 0.2%.

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.

Keywords: rebounders best buy co inc

Ticker(s): BBY