The Greedy Trader Weekly Analysis
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Best Buy Co., Inc. (BBY)

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtTrend resistance at 100.51
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overbought
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It was a third consecutive positive week for the Best Buy Co., Inc. (BBY). During the week, the BBY gained 2.60 points, or 2.68%, and closed at 99.59 on Friday, July 31, 2020. Weekly volume was -48% below average.

Long-term trend: [See BBY long-term trend chart]
A long-term uptrend had started on December 27, 2012 at 11.20 and reached 100.68 on July 30, 2020. BBY gained -89.48 points, or -798.93%, in 396 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (100.51). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See BBY medium-term trend chart]
A medium-term uptrend had started on March 19, 2020 at 48.11 and reached 100.68 on July 30, 2020. BBY gained -52.57 points, or -109.27%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 91.17 and resistance is at 120.42. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 8, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See BBY short-term trend chart]
A short-term uptrend had started on July 9, 2020 at 84.07 and reached 100.68 on July 30, 2020. BBY gained -16.61 points, or -19.76%, in 21 days. The price is now at the 6.56% retracement level.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since July 20, 2020. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.31
Overbought
Williams' Percentage Range (W%R) 2.60
Strong Overbought
Lane's Stochastic (%D-Slow) 89.47
Overbought
Greed/Fear Indicator (GFI) 90.73
Strong Overbought
Moving Average Converg./Diverg. (MACD) 3.37
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.27
Overbought
Williams' Percentage Range (W%R) 0.80
Strong Overbought
Lane's Stochastic (%D-Slow) 88.09
Overbought
Greed/Fear Indicator (GFI) 83.30
Overbought
Moving Average Converg./Diverg. (MACD) 2.09
Trading Signals
Description Value Chart
Upper Bollinger Band 103.52
Yearly Trendline Resistance 100.51
Daily Stochastic Crossing 100.13
Price 99.59
Weekly Stochastic Crossing 97.46
Parabolic System 93.88
20 Day Moving Average 91.47
Monthly Trendline Support 91.17
50 Day Moving Average 85.69
Lower Bollinger Band 81.71
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 6
Industry Computer & Electronics Retail 125
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 84.07
Low Date 07/09/2020
High 100.68
High Date 07/30/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 84.07
Low Date 07/09/2020
High 100.68
High Date 07/30/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 120.42
Support 91.17
Low 48.11
Low Date 03/19/2020
High 100.68
High Date 07/30/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.72
Low Date 12/24/2018
High 100.68
High Date 07/30/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 100.51
Support 57.51
Low 11.20
Low Date 12/27/2012
High 100.68
High Date 07/30/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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