Best Buy Lower With High Volume
Published on Wednesday, 21 November 2012 11:38 Written by TradersHuddle Wire
New York, November 21st (TradersHuddle.com) - Unusual high volume detected on shares of Best Buy Co., Inc. (NYSE:BBY) early in the trading session. The pace in volume of Best Buy is already above average, with sellers in control, as the stock is 3.26% lower.
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 has already traded 1.085 times its 3-month average volume and has calculated support and resistance at $13.52 and $16.25 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.
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.
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