What is the short interest in consumer electronics retailer Best Buy (NYSE: BBY) ahead of its second-quarter financial results on August 30?
On the last trading day, Best Buy had roughly 12 million shares in short interest, reflecting 5.97% of its outstanding shares. By midday Aug. 19, 5.5 million Best Buy shares are available to be shorted, according to...
Best Buy is looking very attractive at these levels currently trading at a 8 PE ratio with over a 4% dividend yield at a 33% payout ratio. It is currently being priced for flat to declining revenue in the short term. Regardless of this their fundamentals are very strong and financials are very healthy so even in this scenario they will be returning capital to...
The PEAD projected a Bullish outlook for $BBY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 71.43%.
Best Buy
Trend:
Below 50,100 and 200 EMA
Positive ADX, DI below 20
Trend seems to be weak
Macro impact:
Consumer cyclical stock are not a good buy
Inflation impact on consumer purchase
High interest impacting credit buying
Recommendation:
Wait for price to cross above the resistance @ 97.96 for re-assessment
BBY has broken above and then returned to 4.618 as a support point
Price points in gray rectangles are very similar with their interaction with 4.618
Bullish continuation is very likely
WHEN PEOPLE ARE IN FEAR, YOU BUY!. BBY has done this in the past, who would take this risk reward ? Nice dividends, nice chart, nice PE ratio, no sign of bankruptcy and last but not least 3YOY revenue growth.
Entered short position on BBY on apr 22 with a fractal breakout to the downside and a sleeping alligator.
Adding if price breaks the weekly fractal of 88.51.
Stop loss is the daily Balance Line (red, if price closes above the Alligator's teeth).
Target, as usual is defined by the market, whenever the trend ends.
The PEAD projected a Bullish Neutral outlook for $BBY after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 83.33%.
Journal Entry
Bias: Positive.
Sentiment: Optimistic.
Emoji (emotion): Motivated🚵♂️.
Null Hypothesis: Buy.
Alternative Hypothesis: Sell.
Signals: ...
Position: Short term day trade.
Notes: ...
Barron's Company Overview: www.barrons.com .
Other: ...
Tutorial: (Q/A) What exactly is the box labeled tolerance? The box labeled tolerance is a defined range...
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $101.85
Target Price: $104.10
Stop Loss: $98.10
Earnings watch 3/3 pre-market:
BBY
KR
CNQ
BJ
CPG
BILI
TD
BURL
BIG
TGLS
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of...
This has held support between95.20-94.77 multiple times.
It looks to be in a symetrical triangle or descending triangle. Resiatnce at 100$.
Honestly I’m looking to see a bullish move to the upside sooner the. Later stops below 94. Watch for 101$ breakout
NYSE:BBY
NYSE:BBY performed well with the market rally and is forming a falling wedge which is traditionally bullish but nothing is bullish in this current market conditions.
