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Trading Best Buy $BBY With Integrated Risk Controls

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Best Buy (NYSE: BBY) report below can help you, but we have more details too. The trading plans for BBY, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for BBY
  • Buy BBY slightly over 72.63 target 84.55 stop loss @ 72.42 Details
  • The technical summary data tells us to buy BBY near 72.63 with an upside target of 84.55. This data also tells us to set a stop loss @ 72.42 to protect against excessive loss in case the stock begins to move against the trade. 72.63 is the first level of support below 80.83 , and by rule, any test of support is a buy signal. In this case, support 72.63 is being tested, a buy signal would exist.

  • Short BBY slightly under 84.55, target 72.63, stop loss @ 84.79 Details
  • The technical summary data is suggesting a short of BBY as it gets near 84.55 with a downside target of 72.63. We should have a stop loss in place at 84.79though. 84.55 is the first level of resistance above 80.83, and by rule, any test of resistance is a short signal. In this case, if resistance 84.55 is being tested, a short signal would exist.

Swing Trading Plans for BBY
  • Buy BBY slightly over 84.55, target n/a, Stop Loss @ 84.31 Details
  • If 84.55 begins to break higher, the technical summary data tells us to buy BBY just slightly over 84.55, with an upside target of n/a. The data also tells us to set a stop loss @ 84.31 in case the stock turns against the trade. 84.55 is the first level of resistance above 80.83, and by rule, any break above resistance is a buy signal. In this case, 84.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short BBY slightly near 84.55, target 72.63, Stop Loss @ 84.79. Details
  • The technical summary data is suggesting a short of BBY if it tests 84.55 with a downside target of 72.63. We should have a stop loss in place at 84.79 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 84.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for BBY
  • Buy BBY slightly over 82.55, target 84.55, Stop Loss @ 82.36 Details
  • If 82.55 begins to break higher, the technical summary data tells us to buy BBY just slightly over 82.55, with an upside target of 84.55. The data also tells us to set a stop loss @ 82.36 in case the stock turns against the trade. 82.55 is the first level of resistance above 80.83, and by rule, any break above resistance is a buy signal. In this case, 82.55, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short BBY slightly near 82.55, target 72.63, Stop Loss @ 82.74. Details
  • The technical summary data is suggesting a short of BBY if it tests 82.55 with a downside target of 72.63. We should have a stop loss in place at 82.74 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 82.55, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

BBY Ratings for March 02:

Term →Near Mid Long
Rating Strong Strong Neutral
P1 -1.34 0 -0.48
P2 0 0.23 72.63
P3 82.55 84.40 84.55
Triggers may have already come
Support and Resistance Plot Chart for BBY

BBY Long Term Analysis for March 2 2023

Blue = Current Price
Red= Resistance
Green = Support

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