The Hourly View for BBY
Currently, BBY’s price is up $0.84 (0.86%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
BBY’s Technical Outlook on the Daily Chart
At the time of this writing, BBY’s price is down $-1.52 (-1.51%) from the day prior. This is the 2nd day in a row BBY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. Best Buy Co Inc’s price action over the past 90 days can be seen via the chart below.
For BBY News Traders
News traders keeping an eye on BBY may find value in this recent story:
But we’re keeping tabs on all the stores that sell the white-hot console, including Best Buy, GameStop and Sony. Here’s the latest.
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The post Best Buy Co Inc (BBY): Price Now Near $98.78; Daily Chart Shows Downtrend on 20 Day Basis appeared first on ETF Daily News.
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