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

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Summary:
Weekly :Broken trend resistance lineBroken trend support line
Daily :Williams' Percentage Range is oversoldPrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY gave back -0.25 points, or -0.22%, and closed at 115.99 on Friday, June 4, 2021. BBY was trading at average weekly trading volume.

Long-term trend: [See BBY long-term trend chart]
A long-term uptrend had started on December 27, 2012 at 11.20 and reached 128.57 on May 10, 2021. BBY gained -117.37 points, or -1047.95%, in 436 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (62.42) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken 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 4, 2021 at 95.93 and reached 128.57 on May 10, 2021. BBY gained -32.64 points, or -34.02%, in 9 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (128.73) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. BBY may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 14, 2021. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See BBY short-term trend chart]
A short-term downtrend had started on May 10, 2021 at 128.57 and reached 112.55 on May 20, 2021. BBY lost 16.02 points, or 12.46%, in 10 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since May 12, 2021. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.99
Williams' Percentage Range (W%R) 81.60
Oversold
Lane's Stochastic (%D-Slow) 31.11
Greed/Fear Indicator (GFI) 29.84
Moving Average Converg./Diverg. (MACD) -0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.49
Williams' Percentage Range (W%R) 40.00
Lane's Stochastic (%D-Slow) 45.84
Greed/Fear Indicator (GFI) 53.17
Moving Average Converg./Diverg. (MACD) 3.34
Trading Signals
Description Value Chart
Monthly Trendline Resistance 132.80
Monthly Trendline Support 128.73
Upper Bollinger Band 123.10
Weekly Stochastic Crossing 118.63
50 Day Moving Average 118.02
20 Day Moving Average 117.54
Daily Stochastic Crossing 116.64
Price 115.99
Parabolic System 114.18
Lower Bollinger Band 110.69
Yearly Trendline Resistance 107.51
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 4
Industry Computer & Electronics Retail 13
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 112.55
Low Date 05/20/2021
High 122.82
High Date 05/27/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 128.57
High Date 05/10/2021
Low 112.55
Low Date 05/20/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 132.80
Support 128.73
Low 95.93
Low Date 03/04/2021
High 128.57
High Date 05/10/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.72
Low Date 12/24/2018
High 128.57
High Date 05/10/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 107.51
Support 62.42
Low 11.20
Low Date 12/27/2012
High 128.57
High Date 05/10/2021
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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