It looks like we should have short term rally. RSI is way oversold. MACD is still bearish and the long term trend is bearish. This is not a company you want to hold in an economic downturn.
Key Points
- Long Term Support is $48 area.
- Citi Downgraded BestBuy $65
We see a short squeeze after Citi's downgrade as expected. Regardless the market is in a downtrend.
Key Points
- Long Term Support is $48 area.
- Citi Downgraded BestBuy $65
We see a short squeeze after Citi's downgrade as expected. Regardless the market is in a downtrend.
Trade closed manually:
Price target moved as predicted, the spike upward and the target of
66
before rising. As always, my disclaimer is, we can't predict the Fed money stream. The economic data says lower, but the Fed printer says higher.
66
before rising. As always, my disclaimer is, we can't predict the Fed money stream. The economic data says lower, but the Fed printer says higher.