Tuesday, August 29, 2017 2:02:34 PM
Shares of Best Buy Co Inc (NYSE:BBY) fell sharply as profit taking took control following solid, but not amazing earnings. Best Buy was one of the only retailers trading near/at 52 week highs. This made it vulnerable to selling even with a strong quarterly report. The stock is dropping by 12% today, trading at $55.00. Based on technical chart analysis, it should continue to fade in the coming days until it hits a major technical support at $50.00. The $50.00 level is a technical gap fill support point as well as the daily 200 moving average. I will look to potentially buy Best Buy Co Inc here for a swing trade bounce back to $55.00 (+10%).
Gareth Soloway
InTheMoneyStocks
Recent BBY News
- Best Buy, Google Cloud, and Accenture Partner to Create a Better Customer Support Experience with Generative AI • PR Newswire (US) • 04/09/2024 12:10:00 PM
- FedEx Soars 13% with Profits Above Forecasts, Nike Hit by China Slowdown, and Latest News • IH Market News • 03/22/2024 01:07:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 08:37:26 PM
- Best Buy to Present at the UBS Global Consumer and Retail Conference on March 14 • Business Wire • 03/11/2024 08:10:00 PM
- Best Buy Announces Retirement of Board Chairman J. Patrick Doyle, Appoints David Kenny • Business Wire • 03/07/2024 02:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 01:06:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:45:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 10:45:21 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/01/2024 10:40:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/01/2024 09:27:24 PM
- Best Buy Announces Regular Quarterly Cash Dividend • Business Wire • 03/01/2024 01:00:00 PM
- Best Buy Reports Slight Dip in Q4 Revenue with Eyes on Future Growth • IH Market News • 02/29/2024 02:14:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 12:00:40 PM
- Best Buy Reports Fourth Quarter Results • Business Wire • 02/29/2024 12:00:00 PM
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- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 12:19:04 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/29/2024 12:07:30 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/28/2024 11:55:43 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/24/2024 02:46:40 PM
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- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 12/22/2023 09:39:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/22/2023 09:38:19 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/20/2023 09:59:34 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/18/2023 10:13:22 PM
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