Trade Alert - Best Buy at New Lows

bby New York, November 20th (TradersHuddle.com) - Shares of Best Buy Co., Inc. (NYSE:BBY) booked a new 52 week low by trading below $13.52. Traders are definitely monitoring Best Buy's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

Best Buy Co., Inc. (NYSE:BBY) retails consumer electronics, computers, entertainment software, appliances and related services through its retail stores, as well as its web site.

Best Buy is currently trading -13.16% versus its previous trading session close, and it has calculated support and resistance at $13.52 and $16.25 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading flat by 0% from its previous trading close, which means that Best Buy stock is underperforming the overall market.

Technical Scans

Stock Market

Loading
Chart
o Dow Jones 17,550.69 ▼47.51 (-0.27%)
o S&P 500 2,093.32 ▼4.72 (-0.22%)
o NASDAQ 5,105.55 ▼9.84 (-0.19%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,550.69 Trade time:4:30PM EDT Value change:▼47.51 (-0.27%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,093.32 Trade time:4:30PM EDT Value change:▼4.72 (-0.22%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:5,105.55 Trade time:5:15PM EDT Value change:▼9.84 (-0.19%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.