BEST BUY CO INC (BBY) Stock Technical Analysis
NYSE:BBY - New York Stock Exchange, Inc. - US0865161014 - Common Stock - Currency: USD
Overall BBY gets a technical rating of 2 out of 10. BBY scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
When comparing the yearly performance of all stocks, BBY is a bad performer in the overall market: 77% of all stocks are doing better.
In the last month BBY has a been trading in the 64.31 - 75.44 range, which is quite wide. It is currently trading near the high of this range.
BBY has an average volume of 4526450 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
The long term trend is still negative, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
BBY is an average performer in the Specialty Retail industry, it outperforms 50% of 120 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.
Although the technical rating is bad, BBY does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 73.80. Right above this resistance zone may be a good entry point.
More info and screens
65.62
93.77
When analyzing the support we can see 3 important areas.
- A support zone ranging from 71.03 to 71.46. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @68.81 from a trend line in the daily time frame.
- A support zone ranging from 66.28 to 66.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 73.80 to 75.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A resistance zone ranging from 80.59 to 81.61. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @83.61 from a trend line in the daily time frame.
- Resistance @92.84 from a horizontal line 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 | DOWN | NEGATIVE | The long term trend for BBY is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BBY is up. |
| ChartMill Relative Strength | 23.7 | NEGATIVE | BBY has a low relative strength, it was outperformed by 76.3% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of BBY is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of BBY is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of BBY is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.31 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.29 | POSITIVE | The MACD value suggests BBY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.38 | OVERBOUGHT | The high Stochastics value suggests BBY may be overbought. |
| Average True Range in percent/ATR (20) | 3.09 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 16.23 | 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)
72.54
-0.11 (-0.15%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustrySpecialty Retail
Performance
% Chg-0.15%
1 Week2.95%
2 Weeks9.38%
1 Month-1.16%
3 Month1.47%
6 Month-17.19%
12 Month-16.82%
2 Year-11.48%
3 Year11.27%
5 Year-16.88%
10 Year122.45%
15 Year114.24%
Volatility
ATR(14)2.46
ATR(20)%3.09%
ATR Inc-21.08%
Range Today0.81
ADR(20)1.97
ADR(20)%2.71%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS23.7
Mansfield-1.78
10 Day High75.44
10 Day Low65.86
20 Day High75.44
20 Day Low64.31
52 Week High103.71
52 Week Low54.99
CS1 End71.46
CR1 Start73.8
Volume & EV
DER(3)1.06%
DER(5)0.25%
Volume2.46M
Volume Incr-6.72%
Vol(5)3.69M
Vol(50)4.53M