BEST BUY CO INC (BBY) Stock Technical Analysis
USA - NYSE:BBY - US0865161014 - Common Stock
Overall BBY gets a technical rating of 8 out of 10. Although BBY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
BBY has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
66.45
We found 3 important support areas.
- Support @72.32 from a trend line in the weekly time frame.
- A support zone ranging from 70.43 to 70.56. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 67.12 to 68.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 82.68 to 84.00. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
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 | UP | POSITIVE | The long term trend for BBY is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BBY is up. |
| ChartMill Relative Strength | 62.66 | NEUTRAL | BBY is not amongst the best or worst performers 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) | 58.88 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.19 | POSITIVE | The MACD value suggests BBY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 82.55 | OVERBOUGHT | The high Stochastics value suggests BBY may be overbought. |
| Average True Range in percent/ATR (20) | 2.94 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 20.99 | NEUTRAL | The ADX value for BBY suggests a possible start of a new trend. |
82.14
-1.04 (-1.25%)
BEST BUY CO INC / BBY FAQ
What is the ChartMill technical rating of BEST BUY CO INC (BBY) stock?
ChartMill assigns a technical rating of 8 / 10 to BBY.
Can you provide the trend direction for BEST BUY CO INC?
The current trend direction for BEST BUY CO INC (BBY) is Bullish.
What is the RSI signal for BEST BUY CO INC (BBY) stock?
BEST BUY CO INC (BBY) has an RSI value of 58.8848. This indicates that the stock is currently neutral.
What is the buy/sell signal for BBY stock?
The buy/sell signal for BEST BUY CO INC (BBY) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for BEST BUY CO INC (BBY) stock?
BEST BUY CO INC (BBY) has a support level at 72.32 and a resistance level at 82.68. Check the full technical report for our detailed analysis of BBY support and resistance levels.