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Best Buy Co Inc Rises 1.76% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Best Buy Co Inc (NYSE:BBY) traded in a range yesterday that spanned from a low of $76.73 to a high of $77.77. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $77.04 on volume of 564,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Best Buy Co Inc has traded in a range of $48.11 to $91.99 and is now at $77.45, 61% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.2%.

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.

Keywords: rebounders best buy co inc

Ticker(s): BBY