When influential investors make decisions to buy and sell securities, they normally want to keep it quiet. However, if we pay close attention we can see what is going on, and make good decisions.. The Best Buy (NYSE: BBY) report below can help you understand how to do this. The trading plans for BBY, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Strong | Strong | Strong |
P1 | 0 | 0 | 109.50 |
P2 | 121.21 | 118.66 | 122.95 |
P3 | 123.25 | 122.49 | 136.23 |
Long Term Trading Plans for BBY
April 10, 2021, 2:45 am ET
The Technical Summary and Trading Plans for BBY help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this BBY Report.
BBY - (Long) Support Plan
The technical summary data tells us to buy BBY near 109.50 with an upside target of 122.95. This data also tells us to set a stop loss @ 109.18 to protect against excessive loss in case the stock begins to move against the trade. 109.50 is the first level of support below 122.48 , and by rule, any test of support is a buy signal. In this case, support 109.50 would be being tested, so a buy signal would exist.
BBY - (Short) Resistance Plan
The technical summary data is suggesting a short of BBY as it gets near 122.95 with a downside target of 109.50. We should have a stop loss in place at 123.31though. 122.95 is the first level of resistance above 122.48, and by rule, any test of resistance is a short signal. In this case, if resistance 122.95 is being tested, so a short signal would exist.