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Look for Shares of Best Buy to Potentially Rebound after Yesterday's 3.18% Sell Off
[February 26, 2013]

Look for Shares of Best Buy to Potentially Rebound after Yesterday's 3.18% Sell Off

Feb 26, 2013 (SmarTrend(R) News Watch via COMTEX) -- Best Buy (NYSE:BBY) traded in a range yesterday that spanned from a low of $16.20 to a high of $17.16. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $16.84 on volume of 10.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.

SmarTrend recommended that subscribers consider buying shares of Best Buy on January 11th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.70. Since that recommendation, shares of Best Buy have risen 24.1%. We continue to monitor BBY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Best Buy share prices have moved between a 52-week high of $27.95 and a 52-week low of $11.20 and are now trading 47% above that low price at $16.46 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has slid 0.3%.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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