BEST BUY CO. INC. - Daily - Technical analysis published on 11/15/2019 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 75.18 USD
My targets
77.93 USD (+1.75%)
82.60 USD (+7.85%)
My analysis
The bullish trend is currently very strong on BEST BUY CO. INC.. As long as the price remains above the support at 75.18 USD, you could try to benefit from the boom. The first bullish objective is located at 77.93 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 82.60 USD as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
FORCE
0
10
7.9
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
BEST BUY CO. INC. rating 76.59 USD. The price registered an increase of +1.31% on the session with the lowest point at 75.91 USD and the highest point at 76.84 USD. The deviation from the price is +0.90% for the low point and -0.33% for the high point.75.91
76.84
76.59
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of BEST BUY CO. INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting a bullish signal that could impact this trend:
Moving Average bullish crossovers : MA50 & MA100
Type : Bullish
Timeframe : Daily
In fact, 11 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Horizontal support is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 68.94 | 71.83 | 75.18 | 76.59 | 77.93 | 82.60 |
| Change (%) | -9.99% | -6.21% | -1.84% | - | +1.75% | +7.85% |
| Change | -7.65 | -4.76 | -1.41 | - | +1.34 | +6.01 |
| Level | Major | Major | Intermediate | - | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 73.86 | 74.37 | 74.98 | 75.49 | 76.10 | 76.61 | 77.23 |
| Camarilla | 75.29 | 75.39 | 75.50 | 75.60 | 75.70 | 75.81 | 75.91 |
| Woodie | 73.92 | 74.39 | 75.04 | 75.52 | 76.16 | 76.64 | 77.28 |
| Fibonacci | 74.37 | 74.79 | 75.06 | 75.49 | 75.92 | 76.18 | 76.61 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 71.39 | 72.49 | 74.67 | 75.78 | 77.96 | 79.06 | 81.24 |
| Camarilla | 75.95 | 76.25 | 76.55 | 76.85 | 77.15 | 77.45 | 77.75 |
| Woodie | 71.92 | 72.76 | 75.21 | 76.05 | 78.49 | 79.33 | 81.78 |
| Fibonacci | 72.49 | 73.75 | 74.52 | 75.78 | 77.03 | 77.81 | 79.06 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 53.22 | 58.37 | 65.10 | 70.25 | 76.98 | 82.13 | 88.86 |
| Camarilla | 68.56 | 69.65 | 70.74 | 71.83 | 72.92 | 74.01 | 75.10 |
| Woodie | 54.01 | 58.77 | 65.89 | 70.65 | 77.77 | 82.53 | 89.65 |
| Fibonacci | 58.37 | 62.91 | 65.71 | 70.25 | 74.79 | 77.59 | 82.13 |
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): | 65.72 | |
| MACD (12,26,9): | 1.7700 | |
| Directional Movement: | 11.40 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 76.30 | |
| Parabolic SAR (0,02-0,02-0,2): | 76.84 | |
| Elder Ray (13): | 1.50 | |
| Super Trend (3,10): | 71.79 | |
| Zig ZAG (10): | 76.47 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 78.52 | |
| TEMA (21): | 76.90 | |
| Williams %R (14): | -8.40 | |
| Chande Momentum Oscillator (20): | 3.83 | |
| Repulse (5,40,3): | 1.6400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3800 | |
| Courbe Coppock: | 9.12 |
| MA7: | 75.93 | |
| MA20: | 74.15 | |
| MA50: | 70.23 | |
| MA100: | 70.01 | |
| MAexp7: | 75.64 | |
| MAexp20: | 73.95 | |
| MAexp50: | 71.46 | |
| MAexp100: | 69.95 | |
| Price / MA7: | +0.87% | |
| Price / MA20: | +3.29% | |
| Price / MA50: | +9.06% | |
| Price / MA100: | +9.40% | |
| Price / MAexp7: | +1.26% | |
| Price / MAexp20: | +3.57% | |
| Price / MAexp50: | +7.18% | |
| Price / MAexp100: | +9.49% |
News
Don"t forget to follow the news on BEST BUY CO. INC.. At the time of publication of this analysis, the latest news was as follows:
- Liquipel launches Liquid Glass Screen Protection at Best Buy locations nationwide.
- CloudMargin Wins Award for Best Buy-Side Collateral Management Tool at WatersTechnology's 13th Annual Buy-Side Technology Awards
- Best Buy Kicks off the Holiday Season With Free Next-Day Delivery on Thousands of Items
- SimpliSafe Unveils $299 Entryway Kit Featuring Video Doorbell Pro, Available at Best Buy
- Best Buy Hires for the Holidays, Hosts Fairs Across the U.S., Oct. 10-11
This member declared not having a position on this financial instrument or a related financial instrument.
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