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. In the past year, BBY was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
73% of all other stocks performed better in the past year than BBY.
BBY has an average volume of 4164620 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 part of the Specialty Retail industry. There are 121 other stocks in this industry, BBY did better than 57% of them.
BBY is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so BBY is lagging the market slightly.
In the last month BBY has a been trading in the 64.63 - 76.40 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
BBY has a poor technical rating and the quality of the setup is also only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
69.07
89.45
When analyzing the support we notice one important area.
- A support zone ranging from 69.77 to 70.15. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
We can see 4 important resistance areas.
- A resistance zone ranging from 71.90 to 73.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @75.67 from a horizontal line in the daily time frame.
- A resistance zone ranging from 82.40 to 83.29. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @88.56 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 | 27.44 | NEGATIVE | BBY has a low relative strength, it was outperformed by 72.56% 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) | 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) | 53.28 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.18 | POSITIVE | The MACD value suggests BBY has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 44.69 | NEUTRAL | The Stochastics value for BBY is a neutral value. |
| Average True Range in percent/ATR (20) | 2.9 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 23.2 | NEUTRAL | The ADX value for BBY suggests a possible start of a new 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)
70.76
+0.61 (+0.87%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustrySpecialty Retail
Performance
% Chg0.87%
1 Week-2.86%
2 Weeks1.93%
1 Month7.21%
3 Month-21.19%
6 Month-20.97%
12 Month-1.03%
2 Year-2.63%
3 Year-13.77%
5 Year-9.39%
10 Year103.92%
15 Year67.48%
Volatility
ATR(14)2.1
ATR(20)%2.9%
ATR Inc-15.84%
Range Today1.33
ADR(20)1.75
ADR(20)%2.47%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS27.44
Mansfield-1.84
10 Day High76.4
10 Day Low68.5
20 Day High76.4
20 Day Low64.63
52 Week High103.71
52 Week Low54.99
CS1 End70.15
CR1 Start71.9
Volume & EV
DER(3)3.61%
DER(5)2.01%
Volume3.12M
Volume Incr-0.76%
Vol(5)3.28M
Vol(50)4.16M