InTheMoney Stocks

Best Buy Co., Inc. (NYSE:BBY) Puts In A Major Top On Upgrade

192 0 1
Best Buy             Co., Inc. ( BBY             ) was upgraded today by Oppenheimer today. The firm gave it an outperform rating with a $50 price target. The top is now in the retailer in my opinion. First, who in the world would upgrade a stock that is already up 250% in the last year? Where was the upgrade when it was trading under $12.00 per share? This is just insanity and classic chasing by an analyst who was late to the party. If you look at stocks like Apple Inc             , you can clearly see when the upgrades come at epic highs it marks a top in the stock.

Next, the technical chart is not only extremely overbought, but has just filled a major gap. This represents a major level for a pull back that should begin as early as tomorrow. Lastly, for those that have learned the PPT             Methodology, please note the daily time count. Just another signal the stock is ready to pull back.

Best Buy             Co. has had a great run. I am not looking to take anything away from it. I am just recognizing that the stock is ready to pull back over the next few months.

Gareth Soloway
Chief Market Strategist
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out