BEST BUY CO INC (BBY) Stock Technical Analysis
NYSE:BBY • US0865161014
Taking everything into account, BBY scores 0 out of 10 in our technical rating. BBY's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
- The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
- 86% of all other stocks performed better in the past year than BBY.
- BBY is one of the lesser performing stocks in the Specialty Retail industry. 75% of 123 stocks in the same industry do better.
- 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 has an average volume of 4502260 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month BBY has a been trading in the 62.77 - 70.52 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 bad, BBY does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 68.43. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for BBY in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
63.48
When analyzing the support we notice one important area.
- Support @64.12 from a horizontal line in the daily time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 68.43 to 69.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 70.41 to 70.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @72.22 from a horizontal line in the daily time frame.
- Resistance @77.49 from a trend line in the weekly 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 | NEUTRAL | NEUTRAL | The short term trend for BBY is neutral. |
| ChartMill Relative Strength | 14.18 | NEGATIVE | BBY has a low relative strength, it was outperformed by 85.82% 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) | 40.97 | NEUTRAL | The RSI value for BBY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests BBY has a negative trend. |
| Stochastics (14,3) | 40.34 | NEUTRAL | The Stochastics value for BBY is a neutral value. |
| Average True Range in percent/ATR (20) | 3.8 | MEDIUM VOLATILITY | The ATR as a percentage value for BBY suggests some volalility. |
| Average Directional Index/ADX (14) | 16.34 | NEGATIVE | The low ADX value for BBY suggests a weak or negative trend. |
64.48
-1.82 (-2.75%)
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 0 / 10 to BBY.
What is the current trend direction of BEST BUY CO INC (BBY) stock?
The current trend direction for BEST BUY CO INC (BBY) is Bearish.
What is the RSI signal for BEST BUY CO INC (BBY) stock?
BEST BUY CO INC (BBY) has an RSI value of 40.9719. This indicates that the stock is currently neutral.
What is the MACD signal for BEST BUY CO INC (BBY) stock?
The MACD indicator for BEST BUY CO INC (BBY) has a value of -0.0145238, indicating a bearish trend.