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Next Resistance Level for Best Buy (BBY) is $15.15
Jan 22, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Best Buy (NYSE:BBY) have bullishly opened above the pivot of $14.79 today and have reached the first resistance level of $15.02. Investors may be interested in a cross of the next upside pivot targets of $15.15 and $15.51.
In the past 52 weeks, Best Buy share prices have been bracketed by a low of $11.20 and a high of $27.95 and are now at $15.30, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has declined 0.2%.
Best Buy (NYSE:BBY) is currently priced 9.4% above its average consensus analyst price target of $13.87. The stock should find resistance at its 200-day moving average (MA) of $17.54, as well as support at its 50-day MA of $12.97.
SmarTrend is monitoring the recent change of momentum in Best Buy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Best Buy in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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