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Monday, May 16, 2011

Best Buy Inc (BBY) Technical Analysis

Rob Witt
Best Buy Inc (BBY) has been in somewhat of a free fall since its earnings report in December 2010 and it did not help the situation with the last one in March 2011. It seems to be recovering and has started to make some higher highs and higher lows. It was also helped by an analyst upgrade last week. The technical indicators are somewhat bullish and this would be a rather low risk trade with a stop around support at 31.81 or you could use support at 31.20 which is the 10 day sma. Resistance would be 32.82 then 35.75.

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