BEST BUY CO. INC.
-
USD
(-)
- 15 min delayed data - NYSE Stocks
| Open: | - |
| Change: | - |
| Volume: | - |
| Low: | - |
| High: | - |
| High / Low range: | - |
| Type: | Stocks |
| Ticker: | BBY |
| ISIN: |
BEST BUY CO. INC. - Daily - Technical analysis published on 07/15/2024 (GMT)
- 117
- 0
- 07/15/2024 - 23:22
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- Timeframe : Daily
- - Analysis generated on 07/15/2024 - 23:22
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 81.83 USD
My targets
87.36 USD (+2.18%)
92.69 USD (+8.41%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on BEST BUY CO. INC. as long as the price remains well above 81.83 USD. The buyers' bullish objective is set at 87.36 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 92.69 USD. If there is any crossing, the next objective would be the resistance located at 95.22 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
5.2
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This analysis was given by robby1966. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The BEST BUY CO. INC. price is 85.50 USD. The price registered a decrease of -0.89% on the session and was traded between 85.20 USD and 86.43 USD over the period. The price is currently at +0.35% from its lowest and -1.08% from its highest.85.20
86.43
85.50
A bearish gap was detected at the opening by the Central Gaps scanner. There are a lot of sellers and they have the upper hand in the very short term.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
Technical analysis of this Daily chart of BEST BUY CO. INC. indicates that the overall trend is strongly bullish. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a slightly bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
MACD indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Momentum indicator is back over 0
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 69.09 | 76.45 | 81.83 | 85.50 | 87.36 | 92.69 | 95.22 |
| Change (%) | -19.19% | -10.58% | -4.29% | - | +2.18% | +8.41% | +11.37% |
| Change | -16.41 | -9.05 | -3.67 | - | +1.86 | +7.19 | +9.72 |
| Level | Intermediate | Intermediate | Major | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 83.76 | 84.48 | 84.99 | 85.71 | 86.22 | 86.94 | 87.45 |
| Camarilla | 85.16 | 85.28 | 85.39 | 85.50 | 85.61 | 85.73 | 85.84 |
| Woodie | 83.66 | 84.43 | 84.89 | 85.66 | 86.12 | 86.89 | 87.35 |
| Fibonacci | 84.48 | 84.95 | 85.24 | 85.71 | 86.18 | 86.47 | 86.94 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.56 | 80.79 | 83.53 | 85.76 | 88.50 | 90.73 | 93.47 |
| Camarilla | 84.90 | 85.36 | 85.81 | 86.27 | 86.73 | 87.18 | 87.64 |
| Woodie | 78.82 | 80.92 | 83.79 | 85.89 | 88.76 | 90.86 | 93.73 |
| Fibonacci | 80.79 | 82.69 | 83.86 | 85.76 | 87.66 | 88.83 | 90.73 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.19 | 77.20 | 80.75 | 86.76 | 90.31 | 96.32 | 99.87 |
| Camarilla | 81.66 | 82.54 | 83.41 | 84.29 | 85.17 | 86.04 | 86.92 |
| Woodie | 69.95 | 76.59 | 79.51 | 86.15 | 89.07 | 95.71 | 98.63 |
| Fibonacci | 77.20 | 80.86 | 83.11 | 86.76 | 90.42 | 92.67 | 96.32 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 53.75 | |
| MACD (12,26,9): | 0.8000 | |
| Directional Movement: | 7.62 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 86.40 | |
| Parabolic SAR (0,02-0,02-0,2): | 81.25 | |
| Elder Ray (13): | 0.49 | |
| Super Trend (3,10): | 87.98 | |
| Zig ZAG (10): | 85.50 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 52.62 | |
| TEMA (21): | 85.45 | |
| Williams %R (14): | -42.68 | |
| Chande Momentum Oscillator (20): | 1.24 | |
| Repulse (5,40,3): | -2.1800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.2100 | |
| Courbe Coppock: | 7.58 |
| MA7: | 85.39 | |
| MA20: | 86.27 | |
| MA50: | 80.89 | |
| MA100: | 78.80 | |
| MAexp7: | 85.45 | |
| MAexp20: | 85.01 | |
| MAexp50: | 82.43 | |
| MAexp100: | 79.62 | |
| Price / MA7: | +0.13% | |
| Price / MA20: | -0.89% | |
| Price / MA50: | +5.70% | |
| Price / MA100: | +8.50% | |
| Price / MAexp7: | +0.06% | |
| Price / MAexp20: | +0.58% | |
| Price / MAexp50: | +3.72% | |
| Price / MAexp100: | +7.39% |
Quotes :
07/15/2024 - 19:59
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15 min delayed data
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NYSE Stocks
News
The last news published on BEST BUY CO. INC. at the time of the generation of this analysis was as follows:
- 07/27/2022 - 20:15 Best Buy Provides Update on Second Quarter Performance and Fiscal 2023 Outlook
- 06/09/2022 - 12:42 The Joint Chiropractic Wins Big: Zor Award Names Brand 2022 Best Buy; 2022 TOP$CORE FUND™ Honors Commitment to Franchise Financing
- 05/25/2022 - 12:00 Best Buy Announces Regular Quarterly Cash Dividend
- 05/24/2022 - 11:00 Best Buy Reports First Quarter Results
- 05/18/2022 - 14:00 Hyundai IONIQ 5 Added to Consumer Guide's® 2022 Best Buy Awards
This member declared not having a position on this financial instrument or a related financial instrument.
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