RE: Watchlist - Investor method - Best Buy BBY
Best Buy BBY now at $22.15 http://scharts.co/1061xUC is another interesting Weinstein investor situation. On a trader method I guess the horizontal stage 2 b/o was back in Feb at $16, and that coincided with a downtrend break (and 30wk MA break) on the investor view, but lacked an up direction in the 30 wk MA.
The 30 wk WMA is now pointing up, so the investor break, still on volume, is at around $21.
The first target is around $27. As Best Buy is a fairly boring retail stock in a time of falling discretionary incomes, with mixed sentiment, and indifferent recent results, I don't expect a massive rise.
People are expecting a stockmarket pullback, so I could hope for an entry price of, say, $21, and a stop only a couple of $ below that. (I don't think I'd have my stop as low as $14.)
PS I see now it is listed as a trader b/o on 4 March http://stageanalysis.net/forum/showthrea...F13#pid101