BBY -Best Buy Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : BBY -Best Buy

BBY 73.46

-2.0%

Dec 12 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jason Lossett who wrote (6)	11/1/1996 5:11:00 PM
From: DanZ	of 980

Jason, The chart on BBY broke down when it violated support at 20. I held my stock until it got to 18 3/4 hoping for a rebound. But I admit when the support is gone and I took my $1.50 per share loss. Yesterday, it fell through another support level at 16 1/2 and continued lower today. The stock is very oversold now and has another support level between 14 5/8 and 15. It is trading below the lower daily Bollinger Band and will probably bounce a buck or two to pull back inside of the bands. It is also trading below the weekly Bollinger band and has support at 14 on the monthly Bollinger band. If you are a short term trader, it might be a good idea to buy the stock here and place a stop around 14 3/8 (or risk what you are comfortable with). You might get stopped out and lose 3/4 of a point, but the potential is for a rally back to around 17. I wouldn't hold the stock if it closes below 14 3/8 because under those circumstances it's likely to make a new 52 week low below 12. Dan

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next