$BBY · Schwab Network · 2026-11-03

Let's move on to your last option here. You have Best Buy as a last resort. I'm looking at "Best Buy". We are less down today, and performance was largely sideways during the first half of the year, but we have seen a strong jump upwards, and momentum remained in Best Buy’s favor until recently.

I might want to know Rick's opinion and yours about the past week or so, but what's your assessment of "Best Buy" now, Mike?

Yes, what I was looking at here is a pullback to the overall moving average. It has already broken through and bounced off its 20-day moving average, but this stock continues its gradual rise.

And you know, I'm kind of rooting for this stock. I'm not a big fan of "Best Buy". I don't own it or anything like that, but it's like, "Yeah, go for it, man." You are doing well in a market that you thought was not performing well, yet it continues to do so.

So, I'm looking for that complete reflection. We are only slightly less than that . Hmm, 94.58 was the price I was looking at . We are trading at 94.65. So, this is valid. I will look for a "cool flag" pattern with a broken wing here again because the implied volatility is relatively low.

Hmm, I want to buy a "Cool Flag" pattern with a broken wing at 101-104-105. I will pay 50 cents for that. That should be available here. 20 cents less than my entry price, I think it should be.

The maximum risk will be the 50 cents you paid . The maximum profit is $2.50. This means that the risk-to-reward ratio will be five to one.

Okay, Rick. Let's look at the technical aspects here of a name that I feel we've turned into "the little train that could," which is "Best Buy. " Does he have the potential to continue pushing himself upwards here? We also have profits coming in on the 24th.

Well, we continue to rise. We have risen by approximately 72% from these low levels we saw here, at 55.10. Our trading example there needs to break through these peaks that come close to 158.

We have had a kind of double top pattern there. But the recent lows, 93, and a gap here near 89, and another relative low near 83.50. Those are the low-pressure areas that stand out to me as potential support.

So, if we present our chart here, we can see that we are between our 5-day and 21-day exponential moving averages. Those come at 96.23 and 94.33 respectively here. Therefore, look for the 21-day exponential moving average to hold as support if you have a more bullish outlook here.

The longer the moving averages, the more significant their breakout becomes. We can also see that the 63-day exponential moving average is closely aligned with our trend line here.

Therefore, this gives further confirmation to this general area, which is currently located near 90, as a support point. The Relative Strength Index (RSI) is moving downwards. We have broken through our green trend line, and we are approaching the midline at 50 here.

So, if we start breaking through the midline at 50, watch to see if the price also breaks through that moving average for further credibility and confirmation of support for this move.

Finally, our volume profile shows a smaller node here, from 92 to 95, accompanied by a larger node here, from 85 to 89. These are the two most important areas to watch as support boundaries here on our chart in our latest timeframe.

Well, it's important to note here that this deal expires just before the earnings event . It's the Friday before Best Buy announces its earnings. Therefore, that potential catalyst was not included there.