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Watch for Best Buy Co Inc to Potentially Rebound After Falling 2.05% Yesterday

By Nick Russo

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $77.05 to a high of $78.12. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $78.36 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Best Buy Co Inc and will alert subscribers who have BBY in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, shares of Best Buy Co Inc have traded between a low of $47.72 and a high of $83.63 and are now at $77.48, which is 62% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.3%.

Keywords: rebounders best buy co inc

Ticker(s): BBY