BEST BUY CO INC (BBY) Stock Technical Analysis
USA - NYSE:BBY - US0865161014 - Common Stock
76.15 USD
+1.96 (+2.64%)
75.95 USD
-0.2 (-0.26%)
Taking everything into account, BBY scores 6 out of 10 in our technical rating. BBY has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
80% of all other stocks performed better in the past year than BBY.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
BBY has an average volume of 3497330 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
BBY is an average performer in the Specialty Retail industry, it outperforms 40% of 122 stocks in the same industry.
BBY is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BBY is lagging the market.
In the last month BBY has a been trading in the 71.74 - 78.77 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is only medium, BBY does present a nice setup opportunity. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 75.03, a Stop Loss order could be placed below this zone.
More info and screens
65.31
79.24
We found 3 important support areas.
- A support zone ranging from 71.78 to 75.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @68.04 from a trend line in the daily time frame.
- Support @65.97 from a trend line in the weekly time frame.
We can see 2 important resistance areas.
- Resistance @76.17 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 77.49 to 78.46. This zone is formed by a combination of multiple trend lines in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for BBY is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BBY is up. |
| ChartMill Relative Strength | 20.39 | NEGATIVE | BBY has a low relative strength, it was outperformed by 79.61% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BBY is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BBY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of BBY is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.95 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.23 | NEGATIVE | The MACD value suggests BBY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 44.05 | NEUTRAL | The Stochastics value for BBY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.63 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 17.85 | NEGATIVE | The low ADX value for BBY suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 76.18 | 71.73 | 4.45 (5.84%) | 17.12% |
| An entry @76.18. This is a Buy Stop order right above the resistance zone. | An exit @71.73. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 4.45 points, which is 5.84%. | For a 1.00% total portfolio risk, you can invest 17.12% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
76.15
+1.96 (+2.64%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustrySpecialty Retail
Performance
% Chg2.64%
1 Week5.43%
2 Weeks0.37%
1 Month4.8%
3 Month11.62%
6 Month5.11%
12 Month-25.53%
2 Year9.62%
3 Year20.22%
5 Year-31.58%
10 Year105.15%
15 Year86.51%
Volatility
ATR(14)1.88
ATR(20)%2.63%
ATR Inc-2.78%
Range Today2.35
ADR(20)1.94
ADR(20)%2.55%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS20.39
Mansfield-1.24
10 Day High76.93
10 Day Low71.74
20 Day High78.77
20 Day Low71.74
52 Week High103.48
52 Week Low54.99
CS1 End75.03
CR1 Start76.17
Volume & EV
DER(3)1.11%
DER(5)0.51%
Volume3.02M
Volume Incr-19.36%
Vol(5)3.24M
Vol(50)3.50M