Hey Traders, Best Buy has been having a nice bullish run. Best Buy's price for the past 8 days has increased by 5.5% . Furthermore, today the MACD indicator provided a bullish crossover. Typically, when the MACD crosses over the signal line, it is a bullish indication and when the MACD crosses below the signal line, it is a bearish indication. Let's see if it can break past $120 per share since that was a key level where price dropped a few weeks back. If it does, we might be looking at an extended rally. Options on BBY have been quiet, so its only technical analysis for now.
REMEMBER: Reference to specific securities should not be construed as a recommendation to buy, sell or hold that security. Specific securities are mentioned for educational and informational purposes only. YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations.