BEST BUY CO INC (BBY) Stock Technical Analysis
NYSE:BBY - New York Stock Exchange, Inc. - US0865161014 - Common Stock - Currency: USD
Taking everything into account, BBY scores 0 out of 10 in our technical rating. 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.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
When comparing the yearly performance of all stocks, BBY is a bad performer in the overall market: 86% of all stocks are doing better.
BBY is part of the Specialty Retail industry. There are 122 other stocks in this industry, of which 69% are performing better than BBY.
BBY is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
BBY is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
BBY has an average volume of 3798350 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
BBY has a bad technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 66.76, a Stop Loss order could be placed below this zone.
More info and screens
65.53
81.74
When analyzing the support we notice one important area.
- A support zone ranging from 66.19 to 66.76. This zone is formed by a combination of multiple trend lines in the daily time frame.
We can see 5 important resistance areas.
- A resistance zone ranging from 69.49 to 70.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @71.79 from a trend line in the daily time frame.
- 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.
- Resistance @78.27 from a trend line in the weekly time frame.
- Resistance @80.93 from a trend 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 | DOWN | NEGATIVE | The short term trend for BBY is down. |
| ChartMill Relative Strength | 14.35 | NEGATIVE | BBY has a low relative strength, it was outperformed by 85.65% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of BBY is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of BBY is below 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) | 44.54 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.29 | NEGATIVE | The MACD value suggests BBY has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 21.92 | NEUTRAL | The Stochastics value for BBY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.19 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 11.71 | 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)
67.44
+0.15 (+0.22%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustrySpecialty Retail
Performance
% Chg0.22%
1 Week-0.16%
2 Weeks-6.06%
1 Month-1.45%
3 Month-0.4%
6 Month-20.41%
12 Month-22.79%
2 Year-18.8%
3 Year-12.4%
5 Year-32.28%
10 Year108.86%
15 Year94.58%
Volatility
ATR(14)2.04
ATR(20)%3.19%
ATR Inc6.53%
Range Today1.42
ADR(20)2.03
ADR(20)%3.01%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS14.35
Mansfield-2.48
10 Day High71.89
10 Day Low65.76
20 Day High74.75
20 Day Low65.76
52 Week High103.71
52 Week Low54.99
CS1 End66.76
CR1 Start69.49
Volume & EV
DER(3)0.39%
DER(5)2.04%
Volume2.55M
Volume Incr-3.13%
Vol(5)3.57M
Vol(50)3.80M