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SmarTrend Watching for Potential Rebound in Shares of Best Buy Co Inc After 1.54% Loss

By James Quinn

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $70.25 to a high of $71.98. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $70.60 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Best Buy Co Inc share prices have been bracketed by a low of $29.05 and a high of $78.59 and are now at $70.44, 142% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

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