Here’s Where I’ll Buy Best Buy

Published 09/20/2017, 01:38 PM
BBY
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Leading electronics retailer Best Buy (NYSE:BBY) fell again after presenting lackluster guidance at it's Investor Day conference. The reality is that the stock topped out on August 24 at $63.32 a share. Since that high pivot, BBY declined to $52.50 where it is traded on Wednesday.

Support

According to the longer-term charts, this probably won't find major support until the $46.75 level, which point to more short-term pain for the stock. Traders should note that $46.75 is where the stock broke out in March 2017 and should serve as major support when retested.

Best Buy Co.

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